Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Nazara acquires 100% Ownership of Paper Boat Apps via additional INR 300 Crores investment

Posted On: 2024-07-20 22:23:54 (Time Zone: IST)


Nazara Technologies Limited (BSE: Nazara), today announced the acquisition of additional 48.42% stake in Paper Boat Apps Pvt. Ltd (PBA) from its promoters Anupam and Anshu Dhanuka for a sum of INR 300 crores to be paid in cash in tranches to take its ownership in PBA to 100%.

Paper Boat Apps is the developer and publisher of popular children's digital gamified learning app 'Kiddopia' which is the #3 grossing app for children between 2-8 years of age in the United States of America.

Nazara will also consider merging Paper Boat Apps into the company at the appropriate time to bring home one of the world's most popular kids gamified learning IP 'Kiddopia'. This step will allow Nazara to benefit from healthy cash flows that can be reinvested for organic as well as inorganic growth.

Since Nazara's acquisition in 2019 of a 50.91% stake in Paper Boat Apps, Kiddopia has scaled up significantly and become a much-loved franchise among children globally.

Paper Boat Apps posted a consolidated revenue of INR 219.4 Crores and an EBITDA of INR 56.1 Crores in FY24, with a net cash balance of INR 155.74 Crores as of March 2024.

Nazara aims to execute a multi-pronged strategy to drive growth and expansion of the Kiddopia franchise through IP licensing and integration, global market expansion, deeper synergies within its network, and additional revenue streams including merchandising, video, and advertising revenues, in addition to the current model of subscription revenues.

Nitish Mittersain, CEO and Joint Managing Director of Nazara Technologies, said, "At Nazara, we believe an IP such as Kiddopia has immense potential that can be unlocked through several new initiatives and acquiring full ownership underscores our commitment to intensifying our efforts in the gamified learning sector."

He added, "Nazara is quickly becoming the go-to platform for entrepreneurs in the gaming, sports, and entertainment sectors globally to access opportunities to scale up and generate liquidity for themselves along the way, as exemplified by this transaction."

Anupam Dhanuka, Promoter of Paper Boat Apps, remarked, "It has been an incredible journey developing Kiddopia into a beloved app for children and parents worldwide. Following the majority acquisition by Nazara, Kiddopia has scaled tremendously, and we are pleased to see it find a permanent home within Nazara. We believe that Kiddopia has significant potential for future growth, and Nazara is well-positioned to elevate it to the next level. We wish Nazara and the entire Kiddopia team the best of luck in their future endeavours."

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 894.80 as compared to the previous close of Rs. 927.20. The total number of shares traded during the day was 31509 in over 2311 trades.

The stock hit an intraday high of Rs. 930.75 and intraday low of 885.80. The net turnover during the day was Rs. 28882522.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

RailTel Corporation of India Ltd receives order worth Rs. 36.78 crores

Triveni Engineering & Industries Ltd. forays into IMFL segment

MAZAGON DOCK SHIPBUILDERS LIMITED declares interim dividend of Rs. 23.19

Oriental Rail Infrastructure Ltd receives order worth Rs. 1.11 crore

Systematix Corporate Services Ltd fixes Nov 5, 2024 as record date for 10 For 1 Stock Split

NHPC Ltd announces loss due to damage at Teesta-V Power Station

Gulshan Polyols Ltd allocated Ethanol supply order by OMCs

Choice Finserv to acquire NBFC and Loan Distribution Portfolios, AUM to increase by 75%

Firstsource to build domain-centric Large Language Model for the U.S Mortgage Business

ALT Digital Media Entertainment Ltd clarifies on web series - Gandi Baat

Imagicaaworld Entertainment Limited to reopen Aqua Imagicaa at Surat

Sonata Software wins Multi-Year AI-Powered Managed Services Contract from Fortune 500 Manufacturing Company

Triveni Engineering & Industries Ltd. Launched Premium and Super Premium Whisky Brands

MAZAGON DOCK SHIPBUILDERS LIMITED approves 2 For 1 Stock Split

John Cockerill India Ltd receives order from fellow subsidiary

EaseMyTrip and Cars24 joins hands to offer customers a chance to win a free car

Happiest Minds positioned as a 'Major Contender' in Everest Group's Cybersecurity PEAK Matrix® Assessment - North America 2024

50 years of CERELAC in India, announces the introduction of CERELAC no refined sugar recipes

Metacast Auto Pvt Ltd to commence business operations shortly

Ambuja Cements Ltd to acquire Orient Cement Limited

Advait Infratech Ltd is now Advait Energy Transitions Ltd

Spectrum Foods Ltd. Signs Non-Binding LOI With IHG for Pushkar Project

SBC Exports Ltd consolidated Q2FY25 profit at Rs. 5.36 crores

Swastika Investmart Ltd consolidated Q2 FY2024-25 profit up at Rs. 7.23 crores

TCC Concept Ltd posts rise in Q2FY25 consolidated PAT to Rs. 9.27 crores

Orbit Exports Ltd Q2 FY2025 consolidated PAT jumps to Rs. 15.99 crores

IIFL Securities Ltd Q2 FY2024-25 consolidated net profit higher at Rs. 205.05 crores

Max Financial Services Ltd reports consolidated net profit of Rs. 112.56 crores in Q2FY25

Prime Securities Ltd Q2 FY2025 consolidated profit rises to Rs. 17.20 crores

Ugro Capital Ltd Q2 FY2024 PAT climbs to Rs. 35.52 crores

Indus Towers Ltd posts consolidated Q2 FY2024-25 net profit of Rs. 2223.5 crores

Tokyo Finance Ltd Q2 FY2025 PAT at Rs. 10.20 lakhs

Can Fin Homes Ltd reports net profit of Rs. 211.48 crores in Q2 FY25

Shoppers Stop Ltd posts consolidated loss of Rs. 20.59 crores in Q2 FY2025

RO Jewels Ltd Q2 FY2025 profit at Rs. 8.22 lakhs

ICICI Prudential Life Insurance Company Ltd consolidated Q2FY25 PAT up at Rs. 250.99 crores

Gabriel India Ltd Q2 FY25 consolidated profit at Rs. 62.91 crores

Olectra Greentech Ltd Q2 FY25 consolidated PAT jumps to Rs. 47.56 crores

Vikas Lifecare Ltd Q2 FY2025 consolidated PAT at Rs. 2.38 crore

Osiajee Texfab Ltd consolidated Q2FY25 profit higher at Rs. 52.77 lakhs

Gujarat Mineral Development Corporation Ltd Q2 FY2024-25 consolidated net profit slips QoQ to Rs. 127.86 crores

Bajaj Finance Ltd consolidated Q2FY25 net profit rises to Rs. 3999.73 crores

Dynamic Cables Ltd Q2 FY2025 net profit higher at Rs. 13.85 crores

Cigniti Technologies Ltd posts consolidated PAT of Rs. 52.94 crores in Q2 FY25

Responsive Industries Ltd consolidated Q2FY25 net profit higher at Rs. 49.28 crores

Chennai Petroleum Corporation Ltd consolidated Q2FY25 loss at Rs. 633.69 crores

Jindal Hotels Ltd Q2 FY2024-25 loss at Rs. 1.43 crore

Royale Manor Hotels and Industries Ltd Q2 FY2025 profit increases QoQ to Rs. 40.31 lakhs

Choice International Ltd Q2 FY2025 consolidated PAT climbs to Rs. 46.45 crores

Bridge Securities Ltd Q2FY25 profit at Rs. 1 crore


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020