Nazara Technologies soars on the bourses
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Nazara Technologies is currently trading at Rs. 1001.40, up by 35.95 points or 3.72% from its previous closing of Rs. 965.45 on the BSE.
The scrip opened at Rs. 982.65 and has touched a high and low of Rs. 1008.00 and Rs. 979.60 respectively. So far 75899 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 4 has touched a 52 week high of Rs. 1035.00 on 02-Aug-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. 1008.00 and Rs. 914.70 respectively. The current market cap of the company is Rs. 7589.10 crore.
The promoters holding in the company stood at 10.05%, while Institutions and Non-Institutions held 22.81% and 67.13% respectively.
Nazara Technologies through its wholly owned subsidiary -- Nazara Dubai FZ is all set to acquire 15.86% stake in GetStan Technologies (STAN), a leading esports community platform in India. Nazara will purchase 15.86% in STAN for around Rs 18.4 crore ($2.2 million) in an all-cash secondary transaction.
STAN is a key player in the Indian esports and fan engagement space, building a mobile-first platform that fosters connections among gamers and supports content creators with tools to succeed.
As of July 2024, STAN's user base has surpassed 12 million, with over 80% of users coming through organic and referral-based channels. The platform has shown strong monetization, boasting over 500,000 paying users and a high 30-day retention rate of over 60%. Its mobile app has gained significant traction, consistently ranking among the top 51 on the Google Play Store with a 4.7-star rating over the past year.
Nazara's investment in STAN strengthens company’s position in the rapidly growing gaming and esports landscape. STAN’s mobile-first approach and focus on community engagement align perfectly with its vision to become a leading player in the global esports ecosystem.
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.
