Nazara Divests Majority Stake in Openplay, Commits INR 2.17 Crores to ReelSaga

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Nazara Technologies Limited has announced the sale of its 94.86% equity stake in Openplay Technologies Private Limited, the parent company of Khel Yaar and Classic Rummy, to Moonshine Technology Private Limited, the parent company of Pokerbaazi. The transaction, valued at INR 104.34 crores, was approved by Nazara’s Board of Directors during a recent meeting held on Friday.

Details of the Openplay Stake Sale

As reported by Storyboard 18, According to a regulatory filing, Nazara Technologies has entered into a Share Purchase Agreement with Moonshine Technology to transfer its controlling stake in Openplay. The payment for the transaction will be made through the issuance of 1,99,890 Compulsorily Convertible Preference Shares (CCPS) of Moonshine. Following the completion of this sale, Openplay Technologies will no longer be a subsidiary of Nazara and will instead come under Moonshine’s ownership.

Currently, Nazara holds a 46.07% equity stake in Moonshine, along with 2,87,376 CCPS. This transaction is expected to further integrate Moonshine’s operations in the real money gaming industry.

Nazara Approves Unsecured Loan to Moonshine

In addition to the stake sale, Nazara Technologies’ Board has also given an in-principle approval for Openplay Technologies to provide an unsecured loan of up to INR 20 crores to Moonshine. This move is aligned with Nazara’s broader business objectives in the real money gaming sector.

Nazara’s Investment in ReelSaga Innovations

Nazara Technologies has approved an investment of up to USD 250,000 (~INR 2.17 crores) in ReelSaga Innovations Private Limited to expand into digital entertainment markets. This investment will be executed in multiple tranches, giving Nazara a 3.57% stake in the company.

ReelSaga Innovations, established in 2024, is focusing on India’s serialized short drama video market, a growing segment in the United States and China. The platform aims to use a microtransaction-based monetisation model alongside subscription services to build its audience.

Strategic Implications

These developments reflect Nazara Technologies’ approach to managing its investments while exploring new opportunities. By divesting Openplay and investing in ReelSaga, Nazara is maintaining its presence in both real money gaming and the digital entertainment space, two sectors with potential for future growth.

With these decisions, Nazara continues to adjust its strategy in the Indian gaming and digital entertainment industry.

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