Nazara Technologies’ shares rose more than 3% to a new 52-week high of Rs 1,048.80 on the NSE after the firm announced plans to acquire a 47.7% stake in Moonshine Technology Private Limited (MTPL) for Rs 832 crore through a secondary transaction.
Furthermore, the company will inject Rs 150 crore in the primary capital into Moonshine through compulsory convertible preference shares. Moonshine is the parent company of PokerBaazi, an online poker gaming platform.
“PokerBaazi has not only emerged as the undisputed leader in online poker gaming in India but has also set new standards in user engagement, innovation, and overall experience,” said Nitish Mittersain, CEO of Nazara Technologies.
As of 1:42 PM, Nazara Technologies shares were trading 3.10% higher at ₹1,039.50 on the NSE.
