Nazara Technologies, a Rakesh Jhunjhunwala portfolio stock, has fixed 27th June 2022 as the record date for the proposed issue of bonus shares. Earlier, on 13th May, its board of directors had considered and approved the recommendation for a bonus issue of one equity share for every one share held.

“It is hereby informed that the Board of Directors of the Company has fixed Monday, June 27, 2022 as the Record Date, for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus Equity Shares of the Company in the proportion of one new fully paid up equity shares of ₹4/- each for every One fully paid up existing equity share of ₹4/- each held,” the company informed in an exchange filing this week.

The 1:1 bonus issue is subject to the approval of shareholders which is obtained by way of a postal ballot through remote e-voting. 

The digital gaming and sports platform posted a consolidated net profit of ₹4.9 crores in the latest quarter as compared to a profit of ₹ 4.2 crores in the same period a year ago. Moreover, its revenue from operations increased by 42% from ₹123.4 crores to ₹175.1 crores.

“I am glad to report that we have surpassed our revenue and EBITDA guidance for FY22, despite the headwinds caused by change in Apple policies and regulatory environment in real money gaming in India and negative impact of COVID-19 in e-sports segment,” said Manish Agarwal, the CEO of Nazara Technologies.

Ace investor Rakesh Jhunjhunwala holds a 10.1% stake in the company. In other words, he holds 3,294,310 shares of the company which amount to 347.1 crores.

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