Nazara Technologies informed the exchange that Nodwin Gaming Private Limited (“Nodwin”), a material subsidiary of the Company, had acquired balance 8,032 (Eight Thousand and Thirty Two) Equity shares of INR 10/- each of Superhero Brands Private Limited (“Planet Superheroes”) for consideration of INR 1,40,56,000/- (Rupees One Crore Forty Lakhs Fifty Six Thousand only) on April 06, 2023.
With this, the acquisition of equity shares as per the Share Purchase Agreement is completed and, Nodwin now holds 100% equity stake, on fully diluted basis, of Planet Superheroes.
Accordingly, Planet Superheroes has become the wholly owned subsidiary of Nodwin Gaming Private Limited and step down wholly owned subsidiary of the Company w.e.f April 29, 2023.