Nazara Technologies Limited — Board Meeting, 14-01-2025: Outcome of Board Meeting

Nazara Technologies Limited has announced a board meeting outcome where the Board approved a cash payment of ₹72.73 Crores to acquire 9.09% equity shares of Absolute Sports Private Limited from existing shareholders. This acquisition will increase Nazara's stake in Absolute to 91.03%, reaffirming its status as a material subsidiary. Additionally, a previously approved preferential issue of equity shares to the sellers, amounting to ₹72.73 Crores, has been withdrawn. This strategic move underscores Nazara’s commitment to enhancing its investment in Absolute.