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An announcement from Nazara Technologies Ltd. ( (IN:NAZARA) ) is now available.
Nazara Technologies Ltd. has agreed to subscribe to 1,278 pre-Series C compulsorily convertible preference shares of Rusk Media Pvt. Ltd. for about INR 14.99 crore in cash, representing 1.36% of Rusk’s fully diluted share capital. The deal, expected to close within 60 days and not classified as a related-party transaction, gives Nazara access to Rusk’s media and entertainment capabilities without requiring any regulatory approvals.
The investment is aimed at building a scripted reality esports and gaming content universe targeted at Gen-Z and millennial audiences in India and overseas. Under the partnership, Nazara and its subsidiaries will gain exclusive monetization rights over the new IP and the ability to commercialize characters and creators through mobile games, strengthening its content-led gaming ecosystem and opening additional revenue streams.
More about Nazara Technologies Ltd.
Nazara Technologies Ltd. is an Indian digital gaming and interactive entertainment company with a focus on mobile and online gaming content. The company targets Gen-Z and millennial audiences in India and globally through games and related entertainment offerings, often leveraging partnerships and investments to build new gaming-centric intellectual properties and monetization channels.
Average Trading Volume: 159,454
Technical Sentiment Signal: Sell
Current Market Cap: 88.97B INR
Learn more about NAZARA stock on TipRanks’ Stock Analysis page.