Nazara Technologies gains on acquiring equity share capital of Funky Monkeys
Nazara Technologies is currently trading at Rs 927.25, up by 9.45 points or 1.03% from its previous closing of Rs 917.80 on the BSE.
The scrip opened at Rs 939.95 and has touched a high and low of Rs 939.95 and Rs 926.60 respectively. So far 991 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 4 has touched a 52-week high of Rs 1124.15 on 19-Sep-2024 and a 52-week low of Rs 590.85 on 27-May-2024.
Last one week high and low of the scrip stood at Rs. 945.00 and Rs. 904.05 respectively. The current market cap of the company is Rs. 8124.22 crore.
The promoters holding in the company stood at 9.00%, while Institutions and Non-Institutions held 24.74% and 66.26% respectively.
Nazara Technologies has acquired 6,51,204 equity shares of Rs 10 each, representing 38.57% of the equity share capital of Funky Monkeys Play Centre (Funky Monkeys) from its existing shareholders against payment of cash consideration of Rs 28.7 crore.
Furthermore, Nazara Technologies has been allotted 3,61,773 equity shares of Rs 10 each, representing 21.43% of the equity share capital by Funky Monkeys against subscription money of Rs 15 crore paid by the Company.
With the completion of the aforesaid transaction, the Company holds 60% of the equity share capital of Funky Monkeys and Funky Monkeys has become a subsidiary of the Company.
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.
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