STOCKWATCH

Nazara Technologies Subsidiary Grants INR 20 Crores Loan to Associate Company Openplay

Nazara Technologies Limited has informed the Exchange about a loan agreement between its subsidiary, Openplay Technologies Private Limited, and its associate, Moonshine Technology Private Limited. The loan, not exceeding INR 20 Crores, is for business purposes such as working capital requirements and expansion plans. The agreement provides Openplay an option to convert the outstanding loan amount into Compulsorily Convertible Preference Shares (CCPS) of Moonshine in case of default.

• Nazara Technologies Limited's subsidiary, Openplay Technologies Private Limited, grants a loan to its associate, Moonshine Technology Private Limited.
• The loan amount is not more than INR 20 Crores, to be disbursed in one or more tranches for business purposes.
• Openplay has the option to convert the outstanding loan amount into CCPS of Moonshine in case of default.
• Openplay and Moonshine are related parties, making this a related party transaction.
• The transaction is done at arm's length.