Nazara Technologies’ share hit a 52-week high of Rs 897 on 5 September after the company announced it will discuss plans to raise funds in the upcoming board meeting.

The board of directors are set to meet on 7 September to consider and, if found fit, approve raising funds by issuing equity shares or securities of the company on a preferential basis.

The company is in talks with international and domestic investors to secure funding to raise funds.

Nazara Technologies plans to build a war chest for a potential acquisition to take all its business segments to the next level.

On 4 September, the board approved raising funds with Zerodha co-founder Nikhil Kamath’s two firms, Kamath Associates and NKSquared, offering up to Rs 100 crore.

The funding is raised to reach the company’s goal of raising Rs 750 crore, which was approved by the board in July.

The management is planning to continue to invest in RMG, ESports, and Adtech to maintain its strategic leadership.

At 12:28 am, the shares of Nazara Technologies were trading at Rs 879.15 or 5.31% above its previous close of Rs 834.80 on NSE.