Gaming and Sports Company Nazara completes acquisition of OpenPlay

• ByTejika Bajaj     |    November 29, 2021

The sports and gaming company Nazara announced that it has completed the acquisition of skill based gaming company OpenPlay. This acquisition comes a few months after the gaming company had announced the acquisition of OpenPlay in August.

As per reports, Nazara Technologies has approved the allotment of 6,48,125 equity shares of INR 4 each at a price of INR 2,206 to Unnati Management Consultants LLP for consideration other than cash, on a preferential basis by private placement of shares.  

With the recent acquisition of equity shares of OpenPlay, the Bengaluru based Sports Company now holds 100% of the former’s issued and paid up share capital. OpenPlay has now become a wholly owned subsidiary of Nazara Technologies. Post the allotment, the gaming company’s paid up equity share stands increased to 3, 25, 30, 227 equity shares.

Making the announcement official, the company representatives commented about the recent acquisition by saying, “We hereby inform you that the company, has acquired 7,670 equity shares of ₹10 each of OpenPlay Technologies and has paid the consideration by way of issue and allotment of 6,48,125 equity shares of ₹4 each of the Company to Unnati Management Consultants LLP. With this, the acquisition of equity shares of OpenPlay as per the Acquisition Agreement is completed and the Company now holds 100% of the issued and paid up share capital of OpenPlay.”

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