Nazara Technologies, a digital gaming and sports company, will buy a 33% stake in Datawrkz Business Solutions, according to a regulatory filing on Friday. In addition, Nazara Technologies’ board of directors has approved a Rs 30 crore investment in its subsidiary Next Wave Multimedia.
According to Nazara Technologies, the board has approved the issuance of approximately 1.1 lakh equity shares at an issue price of Rs 2,260 each, amounting to approximately Rs 24.99 crore, for the purpose of acquiring 22,499 equity shares of Datawrkz Business on a preferential basis.
“Post completion of this acquisition, the company will hold a 33 per cent equity stake on a fully diluted basis in Datawrkz Business Solutions Private Limited,” the filing said.
The board of directors of Nazara Technologies has also increased the company’s loan or investment limit in any entity to Rs 1,000 crore from Rs 550 crore previously.
