New Delhi, May 27 (IANS) Gaming and sports media platform Nazara Technologies, on Monday, said that its promoter Mitter Infotech has sold 48.84 lakh equity shares, or 6.36 per cent of its stake in the company, to Plutus Wealth Management.
The block stock deal will provide liquidity for the promoters who will retain control of the company, with Nitish Mittersain continuing in his current role as CEO and Joint Director, the company said in a regulatory filing.
“Plutus Wealth Management has been a long-term investor in Nazara since the pre-IPO days and has actively participated in subsequent fund raises as well,” said Vikash Mittersain, Promoter, Nazara Technologies.
“This transaction represents a resounding vote of confidence by Plutus in Nazara’s long-term growth prospects, its promoters and management,” he added.
Nazara Technologies clocked a net profit of Rs 17.1 crore in the January-March quarter of FY24, up 43.6 per cent compared to Rs 11.9 crore in the same period in the last fiscal year.
“We are extremely delighted to announce that we have increased our stake in Nazara Technologies Limited, India’s leading diversified gaming and sports media platform,” said Arpit Khandelwal, Managing Partner of Plutus Wealth Management.
“With its expanded presence in various international markets and global partnerships, Nazara is a notable example of an Indian games company that has been successful in going global,” he added.
The company operates in gaming (World Cricket Championship, Kiddopia, Animal Jam, Classic Rummy etc), esports (Nodwin Gaming, Sportskeeda) and advertising (Datawrkz).
It just acquired a 100 per cent stake in Nextwave Multimedia, developers of mobile cricket games under the ‘World Cricket Championship’ franchise.
–IANS
na/kvd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
