Nazara Technologies inches up on getting nod to raise up to Rs 750 crore
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Nazara Technologies is currently trading at Rs. 728.00, up by 1.70 points or 0.23% from its previous closing of Rs. 726.30 on the BSE.
The scrip opened at Rs. 730.00 and has touched a high and low of Rs. 731.00 and Rs. 726.90 respectively. So far 988 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 4 has touched a 52 week high of Rs. 789.00 on 12-Sep-2022 and a 52 week low of Rs. 481.95 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 733.10 and Rs. 707.95 respectively. The current market cap of the company is Rs. 4806.22 crore.
The promoters holding in the company stood at 19.05%, while Institutions and Non-Institutions held 16.77% and 64.18% respectively.
Nazara Technologies has received approval for raising of funds by way of issuance of such number of equity shares having face value of Rs 4 each of the company (Equity Shares) and/or any other equity linked instruments/securities or any combination thereof, for an aggregate amount not exceeding Rs 750 crore through one or more qualified institutional placements or preferential allotment or through combination thereof or any other permissible mode, as may be considered appropriate in accordance with the relevant provisions of applicable law, to eligible investors, subject to the receipt of the necessary approvals including the approval of the shareholders of the Company and such other regulatory/government authority, and requirements, as applicable, including constitution of fund raising committee to implement the proposed fund raise, approval of the notice to obtain shareholders’ approval in this regard and to approve ancillary actions for the above mentioned fundraising by way of a postal ballot. The Board of Directors of the Company at its meeting held on July 10, 2023 inter-alia, considered and approved the same.
Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.
