Nazara Tech News: Significant Share Price Movement After Investment in Stan

Nazara Tech Gains After Investment in Gaming Startup

Shares of Nazara Technologies Limited soared nearly 5 percent to Rs 1,008 in early trade on September 12, prompted by the company's announcement that its subsidiary, Nazara Dubai, acquired a 15.86 percent stake in the gaming community platform Stan for a substantial $2.2 million (Rs 18.4 crore). This investment is considered a significant boost for Nazara Tech in the competitive landscape of gaming.

Strategic Acquisition to Leverage Community Engagement

Nitish Mittersain, CEO of Nazara Tech, stated, “STAN’s mobile-first approach and focus on community engagement align perfectly with our vision to become a leading player in the global esports ecosystem.” This acquisition enables Nazara to extend its reach and empower content creators, fostering a stronger gaming community.

Overview of Stan's Innovative Platform

• Stan offers a unique platform for creators to monetize communities.
• Users engage with their favorite gaming creators through digital collectables.
• Gamers can collect, play, and trade non-fungible tokens (NFTs) related to their favorite esports players.
• These NFTs allow win opportunities for exclusive physical and virtual experiences.

Nazara's Growing Portfolio

This strategic move marks Nazara Tech's second acquisition recently. Earlier, it acquired 5,157 equity shares, representing 48.42 percent of Paper Boat Apps for Rs 300 crore. This move fully integrates Paper Boat into Nazara's operations.

As of 9:20 am, Nazara’s shares traded at Rs 1,003, reflecting a 3.8 percent increase from the previous closing price on the NSE. Over the last three months, Nazara Tech shares have shown a notable rise of 14 percent.