Nodwin Gaming acquires further stake in Rusk Distribution

Nodwin Gaming Private Limited ("Nodwin"), a material subsidiary of Nazara Technologies Limited, on February 28, 2022, has acquired 5,100 equity shares of Rs. 10/- each of Rusk Distribution Private Limited ("Rusk Distribution") and paid a total consideration of Rs. 51,000/- (Rupees Fifty-One Thousand only) to Mr. Mayank Yadav and Mr. Karanvir Sofat, the existing Shareholders of Rusk Distribution for the same. Consequently, Nodwin is now holding 51% of the paid up equity share capital of Rusk Distribution.

With this acquisition, Rusk Distribution has become subsidiary of Nodwin Gaming Private Limited and a step down subsidiary of the Company effective from February 28, 2022.

The objective of acquisition of Rusk Distribution is to monetisation of digital content across all media distribution platforms and brands. The main objective of Rusk Distribution Private Limited is sale and marketing of advertising spots and solutions in digital content being hosted on Advertising based Video on Demand. Sublicensing of Content Intellectual Properties to Over the Top (OTT) or linear platforms and procuring commissioned content deals from Over the Top (OTT) Linear Platforms.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 1721.20 as compared to the previous close of Rs. 1763.95. The total number of shares traded during the day was 21537 in over 4726 trades.

The stock hit an intraday high of Rs. 1769.65 and intraday low of 1694.05. The net turnover during the day was Rs. 36968042.00.

Source : Equity Bulls

Keywords

NazaraTechnologies INE418L01021 StakeIncrease NodwinGaming RuskDistribution