Rakesh Jhunjhunwala backed Nazara Technologies acquires stake in Rusk Media

Rakesh Jhunjhunwala backed Nazara Technologies acquires stake in Rusk Media

by 5paisa Research Team Last Updated: Dec 13, 2022 - 08:42 am 48.6k Views
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Rusk Media Private Limited is a digital entertainment company that creates content IPs for Generation-Z and millennial audiences in India.

The leading gaming company has informed the exchanges of its Board’s approval for the acquisition of 1601 equity shares constituting a 5.54% stake in Rusk Media Pvt Ltd for a consideration of Rs 2.02 crore. Rusk Media Private Limited is a digital entertainment company that creates content IPs for Generation-Z and millennial audiences in India.

With the latest addition, the leading player in the mobile gaming segment in India stands to hold:

  1. 57.05% stake in Nodwin Gaming Pvt Ltd, South Asia’s leading esports company with established relationships with global gaming publishers and platforms including market leaders such as ESL, the biggest Esports organizer in the world and Valve Corporation. 

  1. 52.38% stake in Next Wave Multimedia Pvt Ltd offering WCC3, a next-gen sequel to the world’s no. 1 mobile cricket game – World Cricket Championship 2 (WCC2), the most downloaded and awarded game.

  1. 50.91% stake in Paper Boat apps Pvt Ltd which offers Ed-tech app Kiddopia.

  1. 63.90% stake in Absolute Sports Pvt Ltd offering gaming app -Sportskeeda.

  1. 69.09% stake in Halaplay Technologies Pvt Ltd and 62.53% stake in Sports Unity Pvt Ltd.

Nazara Technologies Ltd incorporated in 1999, is a major disruptor in the segment with its unique business model, cashing in the rising gaming culture. Nazara Technologies eyeing the GenZ, which accounts for one-third of the population, has been on the investor radar even at exorbitant Price Earning multiples of 196, commanding a market capitalization of Rs 8418 crore.

In the last one year, the shares of the company have rallied 84%, touching a 52 week high of Rs 3354.40 on October 11. The shares are up by 2.28% at Rs 2760 at 01.20 pm today.

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