Nazara Technologies Ltd updates on subsidiaries funds with SVB

Nazara Technologies Limited's step down subsidiaries Kiddopia Inc. and Mediawrkz Inc. holding cash balances at Silicon Valley Bank ("SVB") cumulatively amounting for USD 7.75mn (~INR 64 crores).

Both the companies i.e. Kiddopia Inc and Mediawrkz Inc have been given unrestricted access to the entire amount of USD 7.75mn (~INR 64 crores) that was held at SVB.

From this amount, a sum of USD 7.25mn (~INR 60 crores) has been transferred to bank accounts outside of SVB and the balance amount of USD 0.5mn (~INR 4 crores) remains in SVB accounts for unrestricted operational use.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 498.80 as compared to the previous close of Rs. 514.75. The total number of shares traded during the day was 17306 in over 1150 trades.

The stock hit an intraday high of Rs. 513.15 and intraday low of 495.00. The net turnover during the day was Rs. 8704611.00.

Source : Equity Bulls

Keywords

NazaraTechnologies INE418L01021 Kiddopia Mediawrkz CashBalance SVB