Absolute Sports Pvt Ltd buys back shares

Absolute Sports Private Limited ("Absolute"), material subsidiary of Nazara Technologies Limited, has announced that the Company that it has bought back 9995 (Nine Thousand Nine Hundred and Ninety Five) fully paid up equity shares of Re. 1/- (Rupee One) each at a price of Rs. 16,229/- (Sixteen Thousand Two Hundred and Twenty-Nine Only) per equity share for a consideration amounting to Rs. 16,22,08,855/- (Rupees Sixteen Crores Twenty-Two Lakhs Eight Thousand Eight Hundred and Fifty-Five Only), in cash, from its existing shareholders, on proportionate basis, who had tendered their shares in the buyback offer.

Consequent to the aforesaid Buyback, the Company's equity stake stands increased from 70.71% to 74.15%, on fully diluted basis, in Absolute. Further, the Company has decided not to participate in the said buyback offer of Absolute in view of long term vision of the Company.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 492.45 as compared to the previous close of Rs. 499.00. The total number of shares traded during the day was 6863 in over 674 trades.

The stock hit an intraday high of Rs. 504.40 and intraday low of 490.00. The net turnover during the day was Rs. 3415171.00.

Source : Equity Bulls

Keywords

NazaraTechnologies INE418L01021 AbsoluteSports Buyback