Fantasy Akhada to Join Forces with GMR Sports: A $175 Million Deal in the Making
The Indian-based fantasy sports platform Fantasy Akhada revealed in the last month of January 2023 that it intended to offer major stakes to GMR Sports – a member of the GMR group. Spread across a couple of years, GMR Sports is likely to directly buy out stakes own some of the initial partners, and grow into a larger entity with the deal estimated between USD 160 – 175 Mn (Rs 1,300 – Rs 1,400 crores). This strategic move can be seen from increasing focus and investment in the emerging field of fantasy sports in India.
According to UnivDatos, The global fantasy sports market was valued at USD 32.14 billion in 2023 and is expected to grow at a strong CAGR of around 14.13% during the forecast period (2024-2032).
For More Detailed Analysis in PDF Format, Visit- https://univdatos.com/reports/Fantasy-Sports-Market?popup=report-enquiry
Details of the Acquisition
It is expected that the acquisition process will be achieved in phases. Scattered information indicates that GMR Sports will repurchase some of its initial investors as well as engage in primary offerings. This approach means that the strategy will involve both fresh rounds of financing and secondary offerings that can see early investors cash out. Of particular interest, Fantasy Akhada is already funded by various investors such as Prime Securities Team India Managers Ltd and has cricketer commentator, Harsha Bhogle as both an investor and a brand ambassador of the platform, and the platform now boasts of having raised approximately $15 million for the business.
Stakeholder Dynamics
At present, the founders of Fantasy Akhada direct 44.41% of the company, and a total of 35.48% is owned by angel investors. To reward long-term shareholders, GMR Sports has proposed to acquire the firm to gear up to capture the fastest-growing fantasy gaming market in India. Research-based sources have revealed that the Indian Fantasy Sports market was INR 34600 crore in the year 2021 and is anticipated to expand at approximately 32% per annum for the next 10 years.
Market Analysis and Future Buying Potential
Fantasy sports have a market of over 130 million in India and is the biggest fantasy sports market in the world. The sector has had a spectacular experience especially when the COVID-19 pandemic occurred as many engagements took place in this sector. Ventures considered the field of fantasy sports to be attractive for numerous market players, including substantial companies that work across various areas and involve themselves in sporting franchises – such as GMR Sports, which occupy franchises in cricket and kabaddi and see the acquisition of this segment as a logical next step in their development.
The market for fantasy sports is competitive, and the major key players that are already present in the market are Dream11 and Games24X7. However, the subject is still with some legal issues because various state governments have questions about the legality of the various fantasy sports platforms. In response to these challenges, the Indian Ministry of Electronics and Information Technology has prepared draft rules for online gaming that should create a self-regulatory system for businesses operating in this market.
Explore the Comprehensive Research Overview - https://univdatos.com/reports/Fantasy-Sports-Market
Related Reports:
Online Gambling and Betting Market: Current Analysis and Forecast (2024-2032)
Trading Card Market: Current Analysis and Forecast (2023-2030)
MENA E-Gaming Market: Current Analysis and Forecast (2023-2030)
Online Gaming Edutainment Market: Current Analysis and Forecast (2023-2030)
Game Engine Market: Current Analysis and Forecast (2022-2028)
Conclusion
The complete takeover of Fantasy Akhada by GM Sports is one of the biggest advancements witnessed in the world of fantasy sports in India. Going forward as more investment pours into this segment, the thriving partnership between Giant companies such as GMR Sports and upcoming innovators such as Fantasy Akhada have the potential to spur further development in the segment. Therefore, the advancement of the market of fantasy sports as a mainstream entertainment product and constantly expanding customer base will be beneficial for all the investors in this growing industry.
Contact Us:
UnivDatos Market Insights
Contact Number - +19787330253
Email - contact@univdatos.com
Website - www.univdatos.com
Linkedin- https://www.linkedin.com/company/univ-datos-market-insight/mycompany/
English
Arabic
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian