Nazara Technologies Limiteda leading Indian gaming and sports media platform, has successfully completed the sale of its 94.85% stake in OpenPlay Technologies Private Limited, the operator of the popular Rummy platform Classic Rummy, to Moonshine Technology Private Limited, the parent company of PokerBaazi.The transaction, valued at ₹104.33 crore, will see Moonshine issue Compulsory Convertible Preference Shares (CCPS) to Nazara and other sellers. With the acquisition, Moonshine aims to solidify its position in India’s Real Money Gaming (RMG) market by integrating OpenPlay’s profitable Rummy operations into its portfolio.
The move comes as Moonshine seeks to enhance player engagement and expand its market share through technological synergies with its flagship PokerBaazi platform. The company plans to optimise user acquisition and marketing efforts across platforms, while also increasing operational efficiency through shared infrastructure.
Commenting on the deal, Navkiran Singh, Founder and CEO of Moonshine Technology, said, “The acquisition of OpenPlay aligns with our vision to build a comprehensive, made-in-India RMG ecosystem. We look forward to driving growth through innovation and user experience improvements.”Deepak MV, CEO of OpenPlay, added, “Joining forces with Moonshine will enable us to unlock significant value in the Rummy segment. We are excited about leveraging synergies to drive innovation and growth in the RMG space.”
The move comes as Moonshine seeks to enhance player engagement and expand its market share through technological synergies with its flagship PokerBaazi platform. The company plans to optimise user acquisition and marketing efforts across platforms, while also increasing operational efficiency through shared infrastructure.
Commenting on the deal, Navkiran Singh, Founder and CEO of Moonshine Technology, said, “The acquisition of OpenPlay aligns with our vision to build a comprehensive, made-in-India RMG ecosystem. We look forward to driving growth through innovation and user experience improvements.”Deepak MV, CEO of OpenPlay, added, “Joining forces with Moonshine will enable us to unlock significant value in the Rummy segment. We are excited about leveraging synergies to drive innovation and growth in the RMG space.”
This acquisition marks a key milestone in Moonshine’s strategy to strengthen its leadership in India’s RMG sector, offering an expanded gaming portfolio and enhanced user experience.
Shares of Nazara Technologies Limited ended flat on Friday at ₹935.00 on the BSE.
First Published: Mar 8, 2025 12:29 pm IS
