June 16, 2024

Nazara Applied sciences additionally obtained board approval for the acquisition of a ten.77 p.c stake in Kofluence Tech.

Nazara Applied sciences shares gained 2 p.c in early commerce on January 18 after the corporate’s board of administrators permitted a preferential allotment of fairness shares to boost as much as Rs 250 crore from Nikhil Kamath of Zerodha, and different buyers.

Nikhil Kamath’s Kamath Associates, NKSquared, Plutus Wealth Administration, Chartered Finance & Leasing, and ICICI Prudential Mutual Fund will decide up 28.66 lakh shares of Nazara Applied sciences, at a worth of Rs 872.15 every.

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From the January 17 closing worth of Rs 936.75, the shares are purchased at a 6.9 p.c low cost.

Zerodha co-founder Nikhil Kamath’s two companies – Kamath Associates and NKSquared – will make investments Rs 50 crore and their mixed stake will enhance from 2.53 p.c to three.93 p.c. Plutus Wealth can be investing Rs 50 crore to boost its stake from 6.14 p.c to six.63 p.c.

As of 9.20am, shares of the corporate have been quoting Rs 948.95 on the NSE, increased by 1.3 p.c from the earlier session’s closing worth.

This marks the completion of its focused fund-raise of Rs 750 crore introduced final 12 months. The corporate had raised funds from SBI Mutual Fund and Zerodha co-founder Nikhil Kamath in September 2023.

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Nazara Applied sciences additionally obtained the board nod for buying a ten.77 p.c stake in Kofluence Tech, the social media influencer-led marketing-tech platform, from sure present buyers by way of a share swap.

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Nazara Applied sciences and Kofluence plan to launch an influencer-driven sport discovery platform, the place influencers will promote Nazara’s video games throughout varied social media platforms.

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