Nazara Technologies’ promoter Mitter Infotech has sold 48.8 lakh equity shares, representing 6.38% stake to existing investor -- Plutus Wealth Management through a block deal.
The promoters of Nazara Technologies will retain control of the company, with Nitish Mittersain continuing in his current role as CEO and joint Managing Director. The block trade will provide liquidity for the promoters who have dedicated 25 years to the company's growth.
Plutus Wealth Management LLP has been an investor in Nazara since 2020 (pre-IPO) and has demonstrated strong confidence in the company's prospects by increasing its shareholding via this block trade.
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.
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