Nazara Technologies Limited has informed the Exchange regarding the copy of the newspaper publication of the IDC recommendation on the open offer.
NAZARA · price
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Awaiting price reaction for this filing.
Nazara Technologies has filed copies of a newspaper advertisement (published June 13, 2025 in Financial Express, Jansatta, and Mumbai Lakshadeep) containing the recommendations of its Committee of Independent Directors (IDC) on the open offer for the company. The open offer is for acquisition of up to 2,40,82,567 equity shares (26% of voting share capital) at an offer price of INR 990 per share by Axana Estates LLP and Plutus Wealth Management LLP, along with Junomoneta Finsol Private Limited as person acting in concert. The IDC, advised by Rarever Financial Advisors, has stated the offer price is in accordance with SEBI SAST Regulations and the offer appears fair and reasonable. Importantly, the IDC flagged that the current market price of Nazara shares is higher than the offer price, and advised shareholders to independently evaluate the offer before deciding to tender.
The IDC's note that the current market price is already higher than the offer price of INR 990 may discourage shareholders from tendering in the open offer. This is largely a procedural disclosure and is unlikely to cause a sharp stock reaction, but it reinforces that the offer may not be attractive at current market levels.