Nazara Technologies Unit Nodwin Gaming Buys Additional Stake In Freaks 4U Gaming For 213 Crore

A unit of the gaming company Nazara Technologies Ltd. acquired 52,683 shares in Freaks 4U Gaming GmbH worth Rs 213 crore on Thursday.

E-sport and gaming company Nodwin Gaming International Pte. Ltd. bought a 43.97% stake in Freaks 4U, the company informed the exchanges. This takes Nodwin Gaming's total holding in the company to 57%, making it a subsidiary.

Nodwin Gaming—a wholly owned subsidiary of Singapore-based Nodwin, a material subsidiary of Nazara Technologies—had in June said it would acquire a 100% stake in Freaks 4U in multiple tranches.

"The remaining 43% held by the founders, Michael Haenisch, Matthias Remmert and Jens Enders, will be swapped at a later time at its option," the company said in a statement in June. "Existing investors of Freaks 4U Gaming will become shareholders of Nodwin Pte."

The two teams had previously worked on jointly delivering high-profile projects such as the PlayerUnknown's Battlegrounds (PUBG) Mobile Global Open and the Esports World Cup.

Shares of Nazara Technologies closed 0.55% higher at Rs 909 apiece on Thursday, compared with a 0.03% decline in the NSE Nifty 50.