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Business News/ News / India/  Rakesh Jhunjhunwala portfolio stock Nazara Tech fixes record date for bonus shares issue

Nazara Technologies has announced that its board has fixed Monday, June 27, 2022 as the record date for the proposed bonus issue of shares. With its Q4 results, the company's board approved a bonus of one share against each share held by the shareholders.

“It is hereby informed that the Board of Directors of the Company has fixed Monday, June 27, 2022 as the Record Date, for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus Equity Shares of the Company in the proportion of one new fully paid up equity shares of 4/- each for every One fully paid up existing equity share of 4/- each held," Nazara Tech informed in an exchange filing this week.

Nazara Tech's bonus issue is subject to the approval of shareholders which is being obtained by way of Postal Ballot through remote e-voting. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

The digital gaming and sports platform posted an about 17% increase in consolidated profit to 4.9 crore for the quarter ended March 2022. The company had logged a profit of 4.2 crore in the same period a year ago. Revenue from operations increased by about 42% to 175 crore during the reported quarter from 123 crore in the year-ago period.

"I am glad to report that we have surpassed our revenue and EBITDA guidance for FY22, despite the headwinds caused by change in Apple policies and regulatory environment in real money gaming in India and negative impact of COVID-19 in e-sports segment," Nazara Technologies CEO Manish Agarwal had said in its Q4 earnings release.

As per BSE shareholding pattern, Indian ace investor and stock market trader Rakesh Jhunjhunwala owns 10.10% stake in the gaming tech company as of March 2022.

Nazara Tech shares were trading 0.4% lower on the BSE in afternoon deals meanwhile stock market today were choppy on Wednesday on mixed global cues.

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Updated: 15 Jun 2022, 12:57 PM IST
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