Nazara Technologies Highlights: Stock Price Surge After STAN Acquisition

Wednesday, 11 September 2024, 23:36

Nazara Technologies share price increased by 6% after the company announced its acquisition of a 15.86% stake in STAN. This investment valued at Rs 18.4 crore is seen as a strategic move in the esports market. The transaction reflects Nazara's ambition to strengthen its position in online gaming.
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Nazara Technologies Highlights: Stock Price Surge After STAN Acquisition

Nazara Technologies Stock Price Surges Post STAN Stake Acquisition

Shares of Nazara Technologies rose by 6% after it was revealed that the gaming company acquired a 15.86% stake in GetStan Technologies Pte. Ltd (STAN) for Rs 18.4 crore. This acquisition positively influenced the Nazara Technologies share price, which reached an intraday high of Rs 1,019 per share.

About STAN and Its Growth

Founded by Parth Chadha, Nauman Mulla, and Rahul Singh, STAN has developed into an engaging esports community platform in India, surpassing 12 million users by July 2024. With strong monetization efforts resulting in over 500,000 paying users and high retention rates, STAN's mobile app has been a hit on the Google Play Store, consistently ranking in the top 51.

Nazara's Strategic Moves in Online Gaming

Nitish Mittersain, CEO of Nazara Technologies, emphasized that this acquisition allows the company to broaden its influence in the gaming and esports sector. Furthermore, Nazara Technologies holds a significant position in both emerging and established markets, maintaining a diverse portfolio including popular titles like WCC and CarromClash.

Market Overview

The current market capitalization of Nazara Technologies stands at Rs 7,662.20 crore, with share price showing a steady increase. At noon, the shares were trading at Rs 1,001.05, rising by 3.69% compared to prior trading levels.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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