The shares of this leading gaming and sports media platforms was up by 6 percent after its subsidiary Nodwin Gaming bought 100 percent stake in Publishme for USD 2 million.
At 9:30 a.m the shares of Nazara Technologies were trading at Rs. 874 up by 6 percent from its previous day close price and the market capitalization of the company is 5,737 Cr.
As per the company’s filing,Nodwin Gaming International Pte Ltd. wholly owned subsidiary of Nodwin Gaming Private Limited, a material subsidiary of the Nazara Technologies has entered into a Share Sale & Termination Agreement with Nazara Technologies FZ LLC a wholly owned subsidiary of Nazara Technologies and Mr. Ozgur Ozalp who is the founder shareholder of PublishMe.
Nazara Technologies FZ LLC (Nazara Dubai) holds 82.81 percent stake and Mr. Ozgur Ozalp 17.19 percent stake in PublishMe which is a game marketing agency. Nodwin Gaming International Pte Ltd has acquired 100 percent stake in PublishMe for a consideration of USD 2 million payable in cash for Nazaras 82.81 percent stake and USD 1 for Mr. Ozgur Ozalp’s 17.19 percent stake and the indicative time for the completion of the acquisition is 120 days.
The company’s revenue has increased by 75.49 percent from 621.7 Cr in FY22 to 1,091 Cr in FY23, accompanied by increasing profits of 50.7 Cr to 63.4 Cr.
The company has reported a return on equity (ROE) of 5.94 percent and return on capital employed (ROCE) of 8.7 percent, this indicates that the company is making decent returns on equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 19.05 percent stake, the Domestic Institutional Investors hold 10.68 percent and the Foreign Institutional Investors (FII) hold 8.58 percent.
Nazara Technologies is the leading India based diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, and has offerings across the interactive gaming, eSports and gamified early learning ecosystems.
Written by: Bharath K.S
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