Nazara Technologies Limited informs the Exchange regarding 'Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Update on sale of equity shares of Openplay Technologies Private Limited, a subsidiary of the Company'.
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Nazara Technologies has completed the sale of its 94.86% equity stake (11,105 shares) in Openplay Technologies, a former subsidiary, to Moonshine Technology, an associate company. The deal, originally signed on March 7, 2025, was settled entirely on a non-cash basis: Moonshine paid INR 104.34 Crores by issuing 1,99,890 Compulsorily Convertible Preference Shares (CCPS) of face value INR 10 each to Nazara. As a result, Openplay has ceased to be a subsidiary of Nazara and is now a subsidiary of Moonshine, in which Nazara holds a 46.07% equity stake. Nazara will collectively hold 4,87,266 CCPS in Moonshine, including those received in this transaction.
This is essentially a paper-based restructuring rather than a cash exit — Nazara trades a direct subsidiary for enhanced exposure (CCPS plus equity) in an associate company. Shareholders should note that no cash inflow has been generated, and the value realisation depends on the future performance and conversion terms of Moonshine's CCPS.