Nazara Technologies Limited informs the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015 - Update on Acquisition of equity shares of Next Wave Multimedia Private Limited, a subsidiary of the Company'.
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Nazara Technologies has extended the timeline to acquire the remaining 25.12% stake (8,375 equity shares) in its subsidiary Next Wave Multimedia Private Limited from the founding shareholders. The new deadline is September 30, 2025, as per the original Share Purchase Agreement dated May 24, 2024, and its addendum. The founding shareholders are Mr. P.R Rajendran, Ms. R Kalpana, and Ms. P.R Jayashree. This is an update to a prior disclosure made on December 16, 2024.
This is a procedural extension that moves Nazara closer to full ownership of Next Wave (known for the World Cricket Championship game), giving it 100% control of a key gaming subsidiary. The deferred timeline should not materially impact the deal economics, but the consolidation is mildly positive for long-term earnings and decision-making flexibility.