STOCKWATCH

Nazara Technologies Completes Sale of 94.86% Stake in Openplay Technologies for INR 104.34 Crores

Nazara Technologies Limited has informed the Exchange about the completion of the sale of 94.86% equity stake held in Openplay Technologies Private Limited to Moonshine Technology Private Limited. The consideration of INR 104.34 Crores has been discharged by Moonshine through the issuance and allotment of its 1,99,890 Compulsory Convertible Preference Shares (CCPS) to the Company. This acquisition of CCPS of Moonshine by the Company has led to Openplay ceasing to be a subsidiary of Nazara Technologies and becoming a subsidiary of Moonshine, in which the Company currently holds a 46.07% equity stake. Additionally, the Company will hold a total of 4,87,266 Compulsorily Convertible Preference Shares (CCPS) in Moonshine, including the CCPS allotted pursuant to the said transaction.

• Nazara Technologies sold 94.86% equity stake in Openplay Technologies to Moonshine Technology
• Consideration of INR 104.34 Crores discharged through issuance of CCPS by Moonshine
• Openplay Technologies ceased to be a subsidiary of Nazara Technologies and became a subsidiary of Moonshine
• Nazara Technologies holds 46.07% equity stake in Moonshine
• Nazara Technologies holds a total of 4,87,266 Compulsorily Convertible Preference Shares (CCPS) in Moonshine