Nazara Tech's 2 subsidiaries hold Rs 64 cr in SVB; stock hits record low

Shares Nazara Technologies hit a record low of Rs 483.05, after they slipped 7 per cent on the BSE in Monday's intra-day trade, amid heavy volumes. The company has said that it's two step-down subsidiaries, Kiddopia Inc and Mediawrkz Inc, hold cash balances at crises-hit Silicon Valley Bank (SVB).

The balances held at SVB by Kiddopia Inc. and Mediawrkz Inc cumulatively account for $7.75 million (around Rs 64 crore), the company said.

Kiddopia Inc is a 100 per cent subsidiary of