Nazara Technologies Limited — Board Meeting, 07-03-2025: Outcome of Board Meeting

Nazara Technologies Limited has announced a board meeting outcome, approving the sale of a 94.86% equity stake in Openplay Technologies to Moonshine Technology for ₹104.34 Cr, payable via 199,890 Compulsory Convertible Preference Shares. Following this transaction, Openplay will no longer be a subsidiary of Nazara. The Board also granted in-principle approval for an unsecured loan of up to ₹20 Cr from Openplay to Moonshine and planned a strategic investment of up to ₹2.17 Cr in ReelSaga Innovations, which focuses on serialized short drama videos. A postal ballot will be conducted to seek shareholder approval for the stake sale.