Nazara Technologies Limited to acquire stake in Rusk Media Pvt Ltd

The Board of directors of Nazara Technologies Limited have approved the acquisition of 1601 equity shares of Rs. 10/- each representing 5.54% of the paid up share capital of Rusk Media Private Limited for a total consideration not exceeding Rs.2.02 crores, payable in cash.

Nazara is investing in the capability of Rusk to create a scripted reality esports or gaming universe wherein Rusk brings expertise of creation of content for Gen-Z & Millenials Via, this partnership, Rusk will be able to create an entertainment driven content universe for gaming fans in India & Globally and Nazara & it''s subsidiaries will have exclusive monetization rights on the IP that will be created, along with the ability to monetize the characters, creators via mobile games as well.

Rusk Media Private Limited is a private limited company incorporated on 13th February 2019 under the provisions of Companies Act 2013 with its registered office at D-194, I Floor, Okhla Industrial Area, Phase -1, New Delhi - 110020.

Rusk Media Private Limited is a digital entertainment company which creates content IPs for the Gen-Z and millennial audiences in India.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 2630.80 as compared to the previous close of Rs. 2491.35. The total number of shares traded during the day was 92840 in over 10764 trades.

The stock hit an intraday high of Rs. 2658.00 and intraday low of 2520.65. The net turnover during the day was Rs. 239423368.00.

Source : Equity Bulls

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