Nazara Technologies Limited informs the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015 - Franchise Agreement entered by Absolute Sports Private Limited a wholly-owned subsidiary of the Company with PWR Indian League and Tour Private Limited.
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Nazara Technologies' wholly-owned subsidiary Absolute Sports Private Limited (which operates Sportskeeda) has entered into a franchise agreement with PWR Indian League and Tour Private Limited. The disclosure has been made to the exchanges under Regulation 30 of the SEBI LODR Regulations, 2015, as required for material events. Absolute Sports is known for sports and esports media, and PWR Indian League appears to be related to a sports or esports league property in India. Financial terms of the franchise deal have not been disclosed in this filing. This is a routine regulatory disclosure informing the market about a subsidiary-level commercial arrangement.
This is a routine disclosure of a subsidiary-level franchise/partnership deal with no disclosed financial impact on Nazara's consolidated revenue or profits. Investors should wait for further details on deal economics before drawing any conclusions about upside to earnings or valuation.