Jetsynthesys raises money from Krafton, NAFA; announces IPO in 18-36 months

Mumbai: Digital entertainment company Jetsynthesys on Wednesday announced an undisclosed capital raise from South Korean gaming giant Krafton and NAFA Private Equity and said the company is planning to list on the bourses in the next 18-36 months.

The two new investors, Krafton being a strategic one and NAFA a financial one, will hold a minority stake in the company, its Founder and Chief Executive Rajan Navani said.

He refused to disclose the exact amount invested by the two new investors, but added that it will be deployed for global expansion, technology, talent, and potential acquisitions, he added.

The company is aiming for 20-times growth in revenues and doubling of the profit margin to 30 per cent over the next six years, he said, without disclosing the current topline or the profits.

Navani said the company plans to list in India over the next 18-36 months subject to meeting certain milestones and added that there can be more capital raising before the pre-IPO level as well.

He said the onboarding of the two new investors is an important event for the company, which has so far been dependent on domestic family offices and individuals like former cricketer Sachin Tendulkar, Infosys co-founder Kris Gopalkrishnan, and Adar Poonawalla-led Serum Institute for funding.

"This investment aligns with our long-term belief in the potential of India as a global innovation hub in gaming and digital entertainment," Sean Hyunil Sohn, the chief executive of Krafton, which is among Pubg's publishers, said.