Shares of this small-cap IT company jumped by more than 5% today; are you holding it?

Company informed that it has acquired a stake in “Branded PTE” through its subsidiary.

About the Acquisition

Nodwin Gaming, a significant subsidiary of Nazara Technologies, has inked binding agreements to acquire up to 51% of Branded Pte's share capital for up to $1.3 million in cash through its wholly-owned subsidiary Nodwin International Pte. A Singapore-incorporated private company with shares working in the gaming and sports entertainment IP industries is called Branded Pte. The proposed acquisition involves a combination of main share infusion and secondary share purchase from Branded Pte's existing shareholders, which together constitute up to 51% of the company's share capital.

The completion of certain customary precedent conditions as well as additional terms and conditions outlined in the definitive agreements are prerequisites for the planned acquisition. The cash reserves of Nodwin International Pte. and the cash reserves generated by the planned equity infusion that Nodwin will advance to Nodwin International Pte. are being used to pay for the purchase.

Share Price Movement of Nazara Technologies Ltd

The scrip opened on Wednesday at Rs 520 and touched a high and low of Rs 551.40 and Rs 518.90, respectively. Its 52-week high stood at Rs 884.50 whereas its 52-week low was Rs 481.95. The current market cap of the company is Rs 3,628.99 crore. Promoters hold 19.14%, whereas Institutional and non-institutional holdings are 16.46 and 64.41% respectively.

Company profile

The leading gaming and sports media company headquartered in India, Nazara Technologies offers services in the interactive gaming, eSports, and gamified early learning ecosystems. It has operations in India as well as in developed and emerging international markets, including Africa and North America. The World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, Halaplay and Qunami in interactive games, the company is the leading India-based diversified gaming and sports media platform with presence in India and across emerging and developed global markets like Africa and North America.