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 informed the stock exchange about further acquiring equity shares of Next Wave Multimedia Private Limited, which is already a subsidiary of the company. The disclosure has been made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. Next Wave Multimedia is the developer of the popular mobile game 'World Cricket Championship.' The exact size and value of the stake increase have not been detailed in the headline itself. This move suggests Nazara is consolidating its ownership in its gaming subsidiary.
Increasing stake in a profitable gaming subsidiary like Next Wave Multimedia is generally positive for shareholders, as it means higher share of the subsidiary's earnings will flow to Nazara. For the stock, this signals continued focus on consolidating the gaming portfolio, but the announcement alone is unlikely to trigger any major price movement without further details on deal size or valuation.