Nazara Technologies informs about updates

15 Mar 2023 Evaluate
In reference to intimation dated March 12, 2023 on its step-down subsidiaries Kiddopia Inc. and Mediawrkz Inc. holding cash balances at Silicon Valley Bank (SVB) cumulatively amounting for $7.75mn (INR 64 crores), Nazara Technologies has informed that both the companies i.e., Kiddopia Inc and Mediawrkz Inc have been given unrestricted access to the entire amount of $7.75mn (INR 64 crores) that was held at SVB. From this amount, a sum of $7.25mn (INR 60 crores) has been transferred to bank accounts outside of SVB and the balance amount of $0.5mn (INR 4 crores) remains in SVB accounts for unrestricted operational use.

The above information is a part of company’s filings submitted to BSE.

Nazara Technologies Share Price

913.35 10.25 (1.13%)
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