On completion of the acquisition, the company will hold a 33 percent equity stake, on a fully diluted basis, in Datawrkz Business Solutions
Nazara Technologies
Nazara Technologies’ share price rose 3 percent intraday on March 7 after the board of the ace investor Rakesh Jhunjhunwala-backed company approved the issuance of equity shares worth Rs 25 crore to the existing shareholders of Datawrkz Business Solutions.
Nazara Technologies board on March 4 approved issuance of up to 1,10,617 equity shares of face value of Rs 4 each of the company, at an issue price of Rs 2,260 per equity share aggregating to Rs 24,99,94,420 to Senthil Govindan, Arunprabu K, Mayank Khirwadkar, Garale Vishal Tukaram, the existing shareholders of Datawrkz Business Solutions Private Limited, as consideration other than cash, towards discharge of part purchase consideration for the acquisition of 22,499 equity shares of Re 1 each of Datawrkz Business Solutions Private Limited, the company said in a press release.
On completion of the acquisition, the company will hold a 33 percent equity stake, on a fully diluted basis, in Datawrkz Business Solutions, it added.
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The board also in principal approved further investment in equity shares of Next Wave Multimedia Private Limited, a subsidiary, for Rs 10 crore. It will also make an investment of up to Rs 30 crore in Next Wave by way of subscription to further equity shares.
The board approved the notice convening an Extraordinary General Meeting (EGM) on April 4, 2022.
At 11.55 am, Nazara Technologies was quoting at Rs 1,766.10, up Rs 18.35, or 1.05 percent, on the BSE.
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