Nazara Technologies Limited (NSEI:NAZARA) is looking for acquisitions. Nitish Mittersain CEO and GMD said during the Third Quarter and Fiscal Year '24 earnings call, "Our approach of acquiring global gaming IPs and leveraging focused user acquisition, along with data-driven product innovation is starting to pay off for us as demonstrated by Animal Jam's performance in Q3. When we acquired the WildWorks business we thought that we could make a good impact on it.

And with all the hard work that has been put in by our team in the last few quarters, we're actually starting to see the results of the same. Now we're more confident that this playbook can be expanded and scaled up significantly, and we will continue to try and investigate this in the coming quarters as well [indiscernible] potentially [indiscernible] studio acquisitions. We have also completed our Fiscal Year '24 fundraising board.

We had set ourselves a target of INR 750 crores. We managed to secure INR 760 crores through a preferential placement to marquee investors like Mr. Nikhil Kamath, SBI Mutual Fund and ICICI Prudential Mutual Fund. With significant cash as of today, we are in an excellent position to pursue the exciting acquisition opportunities our team has identified.

They have been working diligently for the last year on putting together many opportunities, and we hope to take some of these to the natural conclusion in the coming quarters".