Nazara Technologies Limited has acquired 1,000 equity shares of Next Wave Multimedia and increased its equity holding in the latter to 74.88% from 71.88%.
The company has paid Rs 2.3 crore as the first tranche and will discharge the balance amount in due course, Nazara said in a stock exchange filing. Nextwave remains a subsidiary of Nazara Technologies.
The second tranche will include buying 8,375 shares, representing 25.12% of Nextwave Multimedia, for Rs 19.33 crore either by cash or stock issuance of Nazara Technologies within six months of the closure of the first tranche.
Nazara first acquired a majority stake in Nextwave Multimedia in 2018 and increased its stake to 71.88 percent in May 2023.
Last month, Mumbai-based Nazara Technologies raised Rs 855 crore (approximately $100 million) through a preferential issue. The board approved the allotment on November 27, 2024, after receiving application funds from eligible investors.
In the September quarter (Q2 FY25), Nazara Technologies reported a 7.3% year-on-year increase in revenue to Rs 318.94 crore, while its profit grew by 10.85% to Rs 21.97 crore.
Recently, gaming and esports company Nodwin Gaming has received approval of Rs 64 crore in funding from its parent company Nazara Technologies. It also acquired Trinity Gaming for Rs 24 crore.
Source: Entrackr : Latest Posts