Nazara Tech News: Stock Market Update on New Gaming Acquisition

Nazara Tech Share Surges After New Investment

Shares of Nazara Technologies Limited surged almost 5 percent to Rs 1,008 in early trade on September 12 after the company announced its subsidiary, Nazara Dubai, has purchased a 15.86 percent stake in gaming community startup Stan for $2.2 million (Rs 18.4 crore) in cash through a secondary transaction from existing shareholders.

"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 allows us to expand our reach while empowering content creators and fostering a stronger gaming community," Nitish Mittersain, CEO of Nazara Tech, said.

Highlights of the Acquisition

• Stan enables creators to monetize communities and engage with users.
• Gamers can collect and trade digital collectibles, including NFTs.
• Exclusive events and interactive experiences are offered to users.

This is Nazara's second acquisition in a brief period, having also acquired 48.42 percent of Paper Boat Apps for Rs 300 crore.

At about 9:20 am, shares were trading at Rs 1,003, up 3.8 percent from the last close. Nazara Tech shares have seen a 14 percent rise over the past three months.

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