Nazara Technologies Limited informs that, as per the letter of allotment dated February 24, 2025, received from Funky Monkeys Play Centre Private Limited (“Funky Monkeys”), it has been allotted 3,61,773 equity shares of INR 10/- each. This represents 21.43% of Funky Monkeys’ equity share capital, against a subscription payment of INR 15 Crores made by the company.
Furthermore, on February 24, 2025, Nazara Technologies Limited acquired 6,51,204 equity shares of INR 10/- each, representing 38.57% of Funky Monkeys’ equity share capital, from its existing shareholders for a cash consideration of INR 28.7 Crores.
With the completion of this transaction, Nazara Technologies Limited now holds 60% of Funky Monkeys’ equity share capital, thereby making Funky Monkeys its subsidiary.