Nazara Technologies share price gains on clearance for an acquisition by NCLT. Do you own?

Stock Market today: Nazara Technologies share price gained in the morning trade on Thursday, May 8, on receiving clearance for an acquisition from the NCLT (National Company Law Tribunal, Mumbai). 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 BSE about the approval of resolution plan submitted by the company for the acquisition of Smaaash Entertainment Private Limited by the Hon’ble National Company Law Tribunal, Mumbai.

Nazara Technologies in its relase said, “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 exchanges 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 (SPA) 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 other selling shareholders of Openplay  The agreement was for the sale of 11,105 equity shares, representing 94.86% equity stake held by the company in Openplay to Moonshine.

Nazaara Technologies on May 7 said that it has completed the sale of 94.86% equity stake held in Openplay to Moonshine and the consideration of ₹104.34 crore 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. Nazara Technologies' share price opened almost flat compared to the previous day's closing price of ₹1073.40. Nazara Technologies share price thereafter gained to intraday highs of ₹1103.70, translating into gains of almost 3%.

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