The company will issue 1 new fully paid up bonus equity share of Rs 4 each for 1 existing equity share (1:1).

The bonus issue is subject to the approval of shareholders which is being obtained by way of postal ballot through remote e-voting, the company said.

Nazara Technologies is one of the leading mobile games companies. It is India's leading diversified gaming and sports media platform with a presence across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, eSports, and gamified early learning ecosystems.

The company's consolidated net profit slumped 31.2% to Rs 2.20 crore on a 41.9% jump in net sales to Rs 175.10 crore in Q4 FY22 over Q4 FY21.

Shares of Nazara Technologies shed 3% to Rs 1127.05 on the BSE.