Nazara Technologies Acquires 8.97% Stake in Absolute Sports for ₹69.17 Crore

Nazara Technologies Ltd. has increased its stake in Absolute Sports Pvt. Ltd. from 91.03% to 100%, acquiring the remaining 8.97% equity for ₹69.17 crore. This acquisition makes Absolute Sports a wholly owned subsidiary of Nazara.

As of March 19, 1:18 PM, Nazara Technologies Ltd. is trading at ₹948.90, up ₹12.45 (1.33%) today, but down 8.10% over the past 6 months while gaining 40.69% in the past year.

Transaction Details

The acquisition involved purchasing 18,330 equity shares of Absolute Sports from its eligible employees. Each share had a face value of ₹1. This transaction was carried out under the Share Purchase Agreement (SPA) signed on December 2, 2024.

Impact of the Acquisition

With this purchase, Nazara now has full ownership of Absolute Sports, consolidating its control over its operations, financials, and strategic decisions. The acquisition is part of an ongoing effort to streamline its subsidiaries under its corporate structure.

Filing and Compliance

Nazara Technologies informed stock exchanges of the acquisition through a filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously notified exchanges about the agreement on February 27, 2025.

Absolute Sports and Nazara

Absolute Sports is a sports media company that owns and operates Sportskeeda, a digital platform that covers various sports, esports, and gaming content. The company focuses on online sports coverage, including news, analysis, and opinion pieces on global and domestic sporting events.

Nazara Technologies operates across multiple regions, including India, the Middle East, Africa, and Europe. The company has investments in gaming, esports, and interactive entertainment.

Conclusion

The acquisition completes Nazara’s ownership of Absolute Sports, giving it full decision-making authority over the subsidiary. The company has recorded the transaction in compliance with regulatory requirements and informed stakeholders accordingly.

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