Nazara Technologies gets nod to make strategic investment in OpenPlay Technologies

28 Aug 2021 Evaluate

Nazara Technologies’ board has 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 (OpenPlay) from its existing shareholders i.e. Sreeram Reddy Vanga and Unnati Management Consultants LLP at a consideration of Rs 186.41 crore, in one or more tranches.

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 Rs 43.43 crore, by end of Q2 of FY 2021-22.

Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition to and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.

Nazara Technologies Share Price

932.30 8.00 (0.87%)
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