Nazara Technologies Increases Stake in Nextwave Multimedia Nazara Technologies increased its stake in Nextwave Multimedia to 74.88%, investing INR 2.3 crore. It plans a second tranche acquisition for INR 19.33 crore, further expanding its gaming sector footprint.
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Nazara Technologies Limited has increased its stake in Nextwave Multimedia, acquiring an additional 1,000 equity shares, raising its holding to 74.88% from 71.88%.
The company has paid INR 2.3 crore as the first tranche, with the balance to be settled in due course. This acquisition solidifies Nextwave as a subsidiary of Nazara Technologies.
The second tranche will involve the purchase of 8,375 shares, representing 25.12% of Nextwave, for INR 19.33 crore. This payment will be made either in cash or through the issuance of Nazara stock, to be completed within six months from the first tranche's closure.
Nazara first acquired a majority stake in Nextwave Multimedia in 2018, and in May 2023, it increased its stake to 71.88%. This latest acquisition marks a further strategic move for Nazara, following its recent INR 855 crore (USD 100 million) raise through a preferential issue in November 2024.
For Q2 FY25, Nazara Technologies reported a 7.3% increase in revenue to INR 318.94 crore, and a 10.85% growth in profit to INR 21.97 crore.
In addition, its gaming and esports arm, Nodwin Gaming, has secured INR 64 crore in funding and acquired Trinity Gaming for INR 24 crore, further expanding Nazara's footprint in the gaming sector.
