Nazara Technologies Limited has announced that its subsidiary, Openplay Technologies Private Limited, has entered into a loan agreement with Moonshine Technology Private Limited. According to the regulatory filing on March 12, 2025, Openplay will provide Moonshine with a loan of up to ₹20 crore in multiple tranches for business purposes, including working capital requirements and expansion plans.
Key details of the loan agreement:
- Lender: Openplay Technologies Private Limited (subsidiary of Nazara)
- Borrower: Moonshine Technology Private Limited (associate of Nazara)
- Loan Amount: ₹20 crore (in multiple tranches)
- Purpose: Business expansion, working capital needs
- Security Provided: Nil
- Nature of Loan: Unsecured loan
- Date of Execution: March 10, 2025
- Conversion Clause: In case of default, Openplay will have the option to convert the loan amount into Compulsorily Convertible Preference Shares (CCPS) of Moonshine.
The agreement falls under the category of related party transactions as Openplay is a subsidiary, and Moonshine is an associate company of Nazara Technologies. However, the company has assured that the deal is on an arm’s length basis and complies with SEBI’s regulations.
This move is part of Nazara’s strategic growth initiatives, allowing its subsidiaries and associates to expand operations efficiently. The gaming and digital entertainment company has been actively investing in high-growth segments within the gaming ecosystem.
