Wednesday , October 5 2022

Nazara To Acquire 33% Stake In Datawrkz, Invest Rs 30 Cr In Arm

Digital gaming and sports firm Nazara Technologies will acquire a 33 per cent stake in Datawrkz Business Solutions, the company said in a regulatory filing on Friday.

In addition to this, the board of Nazara Technologies has approved an investment of up to Rs 30 crore in its subsidiary Next Wave Multimedia.

The board has approved the issuance of around 1.1 lakh equity shares at an issue price of Rs 2,260 apiece aggregating to about Rs 24.99 crore for acquiring 22,499 equity shares of Datawrkz Business on a preferential basis, Nazara Technologies said.

“Post completion of this acquisition, the company will hold a 33 per cent equity stake on a fully diluted basis in Datawrkz Business Solutions Private Limited,” the filing said.

The Nazara Technologies board has also doubled the loan or investment limit of the company in any entity to Rs 1,000 crore from Rs 550 crore earlier.

(PTI)

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