About 33% stake acquired in Datawrkz by Nazara

• ByStartupStory     |    March 5, 2022

On Friday, the company Nazara Technologies, a digital gaming and sports firm said in a regulatory filing that it will acquire a 33 percent stake in Datawrkz Business Solutions. In addition to this, in its subsidiary Next Wave Multimedia an investment of up to Rs 30 crore has been approved by the board of Nazara Technologies.

Nazara Technologies said that on a preferential basis, for acquiring 22,499 equity shares of Datawrkz Business, the board has approved issuance of around 1.1 lakh equity shares at an issue price of Rs 2,260 a piece aggregating to about Rs 24.99 crore .

“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,” said the filing. The loan or investment limit of the company has been doubled by the Nazara Technologies in any entity from Rs 550 crore earlier to Rs 1,000 crore.

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