Stock Market today: Nazara Technologies share price gained in the morning trades on Thursday on receiving clearance for an acquisition from the NCLT (National Company Law Tribunal, Mumbai). The Nazara Technologies share price gained up to intraday highs of ₹1103.70, translating into gains of almost 3%.
Nazara Technologies- Approval of resolution plan
Nazara Technologies intimated the National Stock Exchange of India and the BSE ltd about Approval of Resolution Plan submitted by Nazara Technologies Limited for acquisition of Smaaash Entertainment Private Limited by the Hon’ble National Company Law Tribunal, Mumbai
Nazara Technologies in its relase said that “the Resolution Plan submitted by the Company for acquisition of Smaaash Entertainment Private Limited, a company undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016, has been approved by the National Company Law Tribunal, Mumbai by an order pronounced on May 07, 2025, subject to a modification of the provisos to the term effective date”
Nazara Technologies -Other developments
Nazara Technologies also intimated the National Stock Exchange of India and the BSE ltd on 7 May 2025, about an update on sale of equity shares of Openplay Technologies Private Limited, a subsidiary of the Company
Nazara Technologies had earlier intimated about the Share Purchase Agreement dated March 07, 2025 executed amongst the Company, Moonshine Technology Private Limited , which is an associate of the Company, and Openplay Technologies Private Limited, a subsidiary of the Company, and others selling shareholders of Openplay . The agreement was for sale of 11,105 equity shares representing 94.86% equity stake held by the Company in Openplay to Moonshine .
The Nazaara Technologies thereby on 7 May said that it has completed the sale of 94.86% equity stake held in Openplay to Moonshine and the consideration of ₹104.34 Crores has been discharged by Moonshine by way of issuance and allotment of its 1,99,890 Compulsory Convertible Preference Shares of face value of ₹10/- each. Upon completion of the aforesaid transaction, Openplay has ceased to be a subsidiary of the Company and has become a subsidiary of Moonshine, in which the Company currently holds a 46.07% equity stake.
Additionally, the Company will hold a total of 4,87,266 Compulsorily Convertible Preference Shares (CCPS) in Moonshine, including the CCPS allotted pursuant to the said transaction, said Nazara Tech
Nazara Technologies share price movement
Nazara Technologies share price opened at ₹1073.00 on the BSE on Thursday. The Nazara Technologies share price has opened almost flat compared to the previous days closing price of ₹1073.40. The Nazara Technologies share price thereafter gained to intraday highs of ₹1103.70, translating into gains of almost 3%.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
