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Nazara Technologies gets nod for investment in Absolute, Brandscale Innovations

20 Jun 2022 Evaluate

Nazara Technologies has received in- principally approval for further strategic investment in Absolute Sports (Absolute), a material subsidiary of the company, for an amount not exceeding Rs 20.10 crore by way of secondary purchase of its equity shares. The proposed investment will further consolidate its holding in a fast growing and highly profitable subsidiary. The aforesaid investment in Absolute is subject to negotiation and agreement on definitive documentation and fulfillment of the certain conditions and receipt of corporate and regulatory approvals required, if any. 

The company has also received approval for investment for an amount not exceeding Rs 10 crore of subscription to Optionally Convertible Debentures, payable in cash, in one or more tranches, in Brandscale Innovations. Brandscale Innovations is currently performing exceptionally well and in order to further accelerate their growth, the Company is making the aforesaid proposed investment. This will further consolidate Nazara’s Group holding in Brandscale Innovations. The Board of Directors of the company at its meeting held on June 17, 2022, inter- alia, approved the same.

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

273.80 12.85 (4.92%)
17-Apr-2026 16:59 View Price Chart
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