Nazara Technologies Limited — Important, 07-03-2025: Updates

The Board of Nazara Technologies Limited approved the sale of a 94.86% equity stake in Openplay Technologies Private Limited to Moonshine Technology Private Limited for INR 104.34 Cr, payable via the issuance of Compulsory Convertible Preference Shares. Following the transaction, Openplay will transition from a subsidiary of Nazara to a subsidiary of Moonshine, where Nazara currently holds a 46.07% stake and CCPS. Additionally, the Board granted in-principle approval for Openplay to extend an unsecured loan of up to INR 20 Cr to Moonshine and announced a strategic investment of up to USD 250,000 (approximately INR 2.17 Cr) in ReelSaga Innovations Private Limited, acquiring 3.57% equity. These moves strategically position Nazara to enhance its gaming ecosystem and enter the burgeoning short drama video market, indicative of a positive outlook for future revenue streams.