Nazara Technologies Ltd acquires OpenPlay

The Board of Directors of Nazara Technologies Ltd today have approved to make strategic investment for the proposed acquisition of 10,000 equity shares of Rs 10/- each representing 100% of the issued and paid up share capital of OpenPlay Technologies Private Limited (OpenPlay) from its existing shareholders i.e. Sreeram Reddy Vanga and Unnati Management Consultants LLP at a consideration of INR 186.41 crores, in one or more tranches ('Strategic Investment'). In the first tranche of the Strategic Investment, the Company shall acquire 23.30% of the issued and paid up share capital of OpenPlay for a consideration of INR 43.43 crores, by end of Q2 of FY 2021-22.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 1711 as compared to the previous close of Rs. 1686.75. The total number of shares traded during the day was 11355 in over 1697 trades.

The stock hit an intraday high of Rs. 1751 and intraday low of 1674. The net turnover during the day was Rs. 19498631.

Source : Equity Bulls

Keywords