Acquisitions16 Jan 2025, 02:01 am
Nazara Technologies Acquires Additional 9.09% Stake in Absolute Sports for INR 72.73 Crores
AI Summary
Nazara Technologies Limited has informed the Exchange about the acquisition of an additional 9.09% stake in Absolute Sports Private Limited. This acquisition is in line with the Share Purchase Agreements dated September 18, 2024, and is for a balance consideration of INR 72.73 Crores in cash. Post this acquisition, Nazara Technologies' equity holding in Absolute has increased to 91.03% on a fully diluted basis, making Absolute a continued material subsidiary of the Company.
Key Highlights
- Nazara Technologies acquires an additional 9.09% stake in Absolute Sports
- The acquisition is for a balance consideration of INR 72.73 Crores in cash
- Post-acquisition, Nazara Technologies' equity holding in Absolute stands at 91.03% on a fully diluted basis
- Absolute Sports remains a material subsidiary of Nazara Technologies
- This acquisition is in compliance with Regulation 30 of Listing Regulations