Nazara Technologies Limited has completed the sale of its 94.86% equity stake in subsidiary Openplay Technologies Private Limited to Moonshine Technology Private Limited, an associate company.
The transaction is further to the intimation dated March 07, 2025.
The consideration for the sale is ₹104.34 Crore, which was discharged by Moonshine through the issuance and allotment of 1,99,890 Compulsorily Convertible Preference Shares (CCPS) of face value ₹10/- each to Nazara.
Following the completion of this transaction, Openplay has ceased to be a subsidiary of Nazara and has become a subsidiary of Moonshine.
Nazara now holds a 46.07% equity stake in Moonshine and a total of 4,87,266 CCPS in Moonshine, including those allotted as part of this transaction.