Nazara Technologies trades higher on getting nod to acquire 5.54% stake in Rusk Media
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Nazara Technologies is currently trading at Rs. 2704.50, up by 73.70 points or 2.80% from its previous closing of Rs. 2630.80 on the BSE.
The scrip opened at Rs. 2668.00 and has touched a high and low of Rs. 2745.15 and Rs. 2656.00 respectively. So far 30753 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 4 has touched a 52 week high of Rs. 2,745.15 on 07-Oct-2021 and a 52 week low of Rs. 1412.50 on 12-Apr-2021.
Last one week high and low of the scrip stood at Rs. 2745.15 and Rs. 2273.45 respectively. The current market cap of the company is Rs. 8251.50 crore.
The promoters holding in the company stood at 20.70%, while Institutions and Non-Institutions held 12.51% and 66.79% respectively.
Nazara Technologies’ Board of directors have approved the acquisition of 1601 equity shares of Rs 10 each representing 5.54% of the paid up share capital of Rusk Media for a total consideration not exceeding Rs 2.02 crore, payable in cash.
The company is investing in the capability of Rusk to create a scripted reality esports or gaming universe wherein Rusk brings expertise of creation of content for Gen-Z & Millenials. Via, this partnership, Rusk will be able to create an entertainment driven content universe for gaming fans in India & Globally and Nazara & its subsidiaries will have exclusive monetization rights on the IP that will be created, along with the ability to monetize the characters, creators via mobile games as well.
Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition to and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.
