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Corporate News
19-Apr-22
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Nazara announces acquisition of 35% stake in Brandscale Innovations
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Through its material subsidiary, Nodwin Gaming
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The Board of Directors of Nodwin Gaming (Nodwin), a material subsidiary of Nazara Technologies (Nazara) at their meeting held on 18 April 2022
has approved the Acquisition of 35% of the paid up share capital of Brandscale Innovations by way of subscription to 567 equity shares having a face value of Rs 100/- each of Brandscale Innovations for a total consideration of Rs 1,00,160,550/- payable in cash.
Brandscale Innovations deals in the business of trading, manufacturing gaming accessories including but not limited to audio headphones and other gaming accessories across computer and mobile. The proposal investment is part of Nodwin's growth strategy to unlock power of its community and strengthen its D2C revenues.
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