new Delhi: Digital gaming and sports firm Nazra Technologies will acquire 33 per cent stake in Dataworks Business Solutions, the company said in a regulatory filing on Friday. In addition, the board of Nazra Technologies has approved an investment of up to Rs 30 crore in its subsidiary Next Wave Multimedia.
Nazra Technologies said the board has approved issuance of approximately 1.1 lakh equity shares at an issue price of Rs 2,260 for acquisition of 22,499 equity shares of Dataworks business on a preferential basis, which is approximately Rs 24.99 crore.
“After the completion of this acquisition, the company will hold 33 per cent equity stake in Dataworks Business Solutions Pvt Ltd on a fully diluted basis,” the filing said.
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Nazara Technologies Board has increased the company’s debt or investment limit in any entity to Rs 1,000 crore from the earlier Rs 550 crore.
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Originally published at Pen 18
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