Nodwin Gaming (Nodwin), a material subsidiary of Nazara Technologies, has on 18 December 2024, signed Share Purchase Agreement with AFK Gaming (AFK), Nishant Patel, Rakesh Ramachandran and Siddharth Nayyar (the Founders of AFK) and the other shareholders for the purpose of secondary acquisition of 92.30% of the equity share capital, of AFK from the sellers for an aggregate consideration of Rs 7.58 crore, payable by the Nodwin a) partly by way of Cash consideration of Rs 4.59 crore and b) balance Rs 2.99 crore by way of swap of equity shares of Nodwin, in accordance with the Companies Act, 2013 and other applicable laws and such other regulatory/ statutory approvals as may be required.
Post completion of the said acquisition, AFK will become the wholly owned subsidiary of Nodwin and step-down subsidiary of Company
Source: Business-Standard