Nazara Technologies' (NSE:NAZARA, BOM:543280) subsidiary Nodwin Gaming has entered into an agreement to acquire a the remaining 92.30% stake it did not already own in AFK Gaming for 75.8 million Indian rupees, according to a Thursday filing to the stock exchanges.
Under the terms of the company, the company will partly pay 45.9 million rupees in cash and the balance 29.9 million rupees by way of swap of equity shares of Nodwin.
On completion of the transaction, AKF will become a wholly-owned Nodwin and its management cadre with the founders will join Nodwin.
Nazara's shares were down nearly 2% in recent trade
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