Nazara Technologies Limited — Important, 12-12-2024: Updates

Nazara Technologies Limited has entered into a Share Subscription Agreement with its subsidiary, Datawrkz Business Solutions Private Limited, to subscribe to 4,959 Compulsorily Convertible Cumulative Preference Shares (CCCPS) at a total consideration of INR 15 Cr. This investment aims to support Datawrkz's growth in the digital advertising sector, enhancing its operational capabilities and market reach. Datawrkz, established in 2013, specializes in advertising technology, offering solutions to publishers and brands, and reported a turnover of INR 104.3 Cr for the fiscal year 2023-24. The acquisition is expected to strengthen Nazara's portfolio and may provide a positive outlook for future growth. Completion of the transaction is anticipated within 30 days.