Nazara Technologies gains as its arm enters into subscription agreement with Griffin Partners Fund II

08 Mar 2022 Evaluate

Nazara Technologies is currently trading at Rs. 1776.65, up by 11.30 points or 0.64% from its previous closing of Rs. 1765.35 on the BSE.

The scrip opened at Rs. 1831.20 and has touched a high and low of Rs. 1831.20 and Rs. 1765.00 respectively. So far 2422 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 4 has touched a 52 week high of Rs. 3354.40 on 11-Oct-2021 and a 52 week low of Rs. 1412.50 on 12-Apr-2021.

Last one week high and low of the scrip stood at Rs. 1831.20 and Rs. 1712.50 respectively. The current market cap of the company is Rs. 5795.65 crore.

The promoters holding in the company stood at 19.32%, while Institutions and Non-Institutions held 16.19% and 64.49% respectively.

Nazara Technologies’ wholly owned subsidiary -- Nazara Technologies FZ LLC (Nazara Dubai) has entered into Subscription Agreement & Investor Questionnaire and other related transaction documents with Griffin Gaming Partners II, L.P (the Fund), GGP GP II, LLC (the Fund Manager) on March 07, 2022 for the purpose of purchase of Limited Partner interest in the Fund and admission of Nazara Dubai as Limited Partner in Griffin Gaming Partners II, L.P, for a capital commitment not exceeding $4 Million (approximately Rs 30 crore), payable in cash, in one or more tranches.

Nazara Dubai will invest upto $1.34 Million (approximately Rs 10 crore) upfront while the balance investment amount of $2.66 Million (approximately Rs 20 crore) will be deployed over a period of 3 years. Griffin Partners Fund II, L.P, (Griffin or Fund) is a firm prefers to invest in gaming platforms and infrastructure, gaming content, and game studios. Nazara Dubai, with this proposed investment, aims to build network with Limited Partners (LP) as well as the Investee Companies of that Fund and to gain access into Global Gaming Ecosystem.

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

Nazara Technologies Share Price

942.10 17.80 (1.93%)
06-Nov-2024 14:42 View Price Chart
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