Acquisitions24 Feb 2025, 11:29 pm
Nazara Technologies Acquires 60% Stake in Funky Monkeys Play Centre for INR 43.7 Crores
AI Summary
Nazara Technologies Limited has informed the Exchange about its investment in Funky Monkeys Play Centre Private Limited. The company has received a letter of allotment dated February 24, 2025 from Funky Monkeys, allotting 3,61,773 equity shares of INR 10/- each, representing 21.43% of the equity share capital of Funky Monkeys. Additionally, Nazara Technologies has acquired 6,51,204 equity shares of INR 10/- each, representing 38.57% of the equity share capital of Funky Monkeys, from its existing shareholders against a cash consideration of INR 28.7 Crores. This brings the total equity share capital of Funky Monkeys held by Nazara Technologies to 60%, making Funky Monkeys a subsidiary of Nazara Technologies.
Key Highlights
- Nazara Technologies has invested INR 43.7 Crores in Funky Monkeys Play Centre Private Limited.
- The company has received allotment of 3,61,773 equity shares, representing 21.43% of Funky Monkeys' equity share capital.
- Nazara Technologies has also acquired 6,51,204 equity shares, representing 38.57% of Funky Monkeys' equity share capital, from its existing shareholders.
- With this transaction, Nazara Technologies now holds 60% of the equity share capital of Funky Monkeys.
- Funky Monkeys has become a subsidiary of Nazara Technologies.