Nazara's step down subsidiaries get access to cash balances held with SVB

Nazara Technologies announced that its two step-down subsidiaries Kiddopia Inc and Mediawrkz Inc have been given unrestricted access to the entire amount of USD 7.75mn (Rs 64 crore) that was held at Silicon Valley Bank (SVB).

From this amount, a sum of USD 7.25mn (Rs 60 crore) has been transferred to bank accounts outside of SVB and the balance amount of USD 0.5mn (Rs 4 crore) remains in SVB accounts for unrestricted operational use.

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