Nodwin Gaming, a material subsidiary of Nazara Technologies, has completed the acquisition of a 92.3% stake in AFK Gaming Pvt Ltd. According to a regulatory filing by Nazara Technologies, the acquisition was executed through a share purchase agreement dated December 18, 2024, between Nodwin; the founders of AFK Gaming — Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar; and other shareholders.
The total purchase consideration for the transaction was ₹7.58 crore. Of this, ₹4.59 crore was paid in cash, while the remaining ₹2.99 crore was settled via a share swap, with Nodwin issuing its equity shares to the sellers. As part of the integration, AFK Gaming’s founders will join Nodwin Gaming’s leadership.
Following the transaction, AFK Gaming has become a wholly-owned subsidiary of Nodwin and a stepdown subsidiary of Nazara Technologies. Nodwin Gaming had earlier led AFK Gaming’s first investment round in 2017.
The shares of Nazara Tech ended with marginal gains in the session on Tuesday (July 1).
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(Edited by : Shoma Bhattacharjee)
