Nazara Technologies has successfully divested its 94.85% stake in OpenPlay Technologies (OpenPlay) which runs popular Rummy platform, Classic Rummy, to Moonshine Technology (Moonshine), the parent company of India’s biggest Poker platform, PokerBaazi. The transaction, valued at Rs 104.33 crore, will be executed through the issuance of Moonshine’s Compulsory Convertible Preference Shares (CCPS) to Nazara and other sellers.
With this acquisition, Moonshine strengthens its position in India’s Real Money Gaming (RMG) sector, integrating OpenPlay’s Rummy platform into its existing Rummy offering. OpenPlay, a leading midsized Rummy operator, has maintained a profitable track record despite recent industry regulatory shifts. By integrating OpenPlay’s operations, Moonshine aims to leverage its technological, marketing, and data-driven expertise-particularly from its flagship PokerBaazi brand-to drive significant growth in India’s Rummy market.
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.
| Company Name | CMP |
|---|---|
| TCS | 2581.65 |
| Infosys | 1318.60 |
| HCL Tech. | 1442.50 |
| Wipro | 204.35 |
| Tech Mahindra | 1511.85 |
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