Nazara Technologies jumps on entering into Share Purchase agreement to acquire 1% stake in Absolute Sports
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Nazara Technologies is currently trading at Rs. 644.00, up by 21.90 points or 3.52% from its previous closing of Rs. 622.10 on the BSE.
The scrip opened at Rs. 644.95 and has touched a high and low of Rs. 663.85 and Rs. 632.25 respectively. So far 124916 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 4 has touched a 52 week high of Rs. 1677.20 on 11-Oct-2021 and a 52 week low of Rs. 484.00 on 22-Jun-2022.
Last one week high and low of the scrip stood at Rs. 663.85 and Rs. 484.00 respectively. The current market cap of the company is Rs. 4202.53 crore.
The promoters holding in the company stood at 19.32%, while Institutions and Non-Institutions held 14.24% and 66.44% respectively.
Nazara Technologies has entered into a Share Purchase agreement with Porush Jain and Absolute Sports (Absolute) on June 24, 2022, for the purpose of acquisition of 1.00% equity stake of Absolute on fully diluted basis, and to record the terms and conditions and other matters in connection therewith.
Absolute Sports deals in the business of sports media, sports consultancy, sports management, sports events, sports good retail online, sports magazines, online and print news coverage of football, cricket, hockey, kabaddi, badminton, table tennis and all other sports. Cost of acquisition is Rs 4.99 crore.
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.
