Nazara Tech invests ₹734 crore into UK arm for acquisition of Bluetile & Bestplay
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Nazara Technologies infused ₹734.35 crore into its UK subsidiary on October 29 to fund the acquisition of Bluetile Games and Bestplay Systems.
- ✓The Mumbai-based firm paid this second tranche to complete the deal.
- ✓While shares fell over 1.50% on Friday to ₹398, the stock rose 51% over six months.
Story at a Glance
- Category
- BUSINESS
- Reported By
- CNBC TV18
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Nazara Technologies shares will be in focus on Monday, after the company announced that it has infused $77 million, or approximately ₹734.35 crore, into its wholly owned UK subsidiary, Nazara Technologies UK.
In an exchange filing, the Mumbai-based company said that it has paid the second tranche of its acquisition of Spanish gaming companies Bluetile Games and Bestplay Systems.
The company infused $77 million, or about ₹734.35 crore, into its wholly owned UK subsidiary, Nazara Technologies UK, on October 29 through a subscription to equity shares. The infusion is subject to compliance with applicable laws.
The following day, Nazara UK paid the same amount in cash to the sellers as the second tranche. The total consideration payable is $303.02 million, or about ₹2,990 crore.
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