Rakesh Jhunjhunwala-backed Nazara Technologies takes stake in Rusk media; shares up nearly 3 %
Rakesh Jhunjhunwala-backed Nazara Technologies Limited has made fresh acquisition in Rusk Media Private Limited.
Rakesh Jhunjhunwala-backed Nazara Technologies Limited has made fresh acquisition in Rusk Media Private Limited. As per BSE filing, the gaming company has acquired stake worth over Rs 2 crore in the media company.
"The Company on October 25, 2021 has acquired 1,601 equity shares of Rs. 10/- each in Rusk Media Private Limited and paid the consideration of Rs. 2,01,67,797/- (Rupees Two Crores One Lakh Sixty Seven Thousand Seven Hundred and Ninety Seven Only) to the respective sellers for the same," said Nazara Technologies filing to the exchange.
With the fresh acquisition, the gaming startup now holds 5.54% in Rusk Media. " Post Acquisition of aforesaid equity shares, the Company is now holding 5.54% of the issued and paid-up share capital in Rusk Media Private Limited. You are requested to please take the above intimation on record," the company's statement read.
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Nazara Technologies shares were trading with nearly 3 per cent gains on the Bombay Stock Exchange in Wednesday's intraday trade. The shares of recently listed company were trading with Rs 69.25 gains at Rs 2771.00 around 11.20.
The big bull of the Indian stock market holds 10.8 per cent stake in the gaming startup as per the latest corporate holdings for September available at BSE. The Indian billionaire holds as many as 3,294,310 shares worth Rs 922.4 crore as on October 27, 2021, showed data with Trendlyne, a platform for stock market analysis.
Nazara Technologies stocks hit 52-week high of Rs 3,354.40 recently on October 11, 2021 and touched 52-week low value of Rs 1412.50 as on April 12, 2021.
Incorporated in 1999, Nazara Technologies Ltd is listed on both NSE and BSE. The Company is one of the leading mobile games companies headquartered in Mumbai.
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