Mitter Infotech LLP sell 6.38% stake to Plutus Wealth Management LLP
Mitter Infotech LLP, a promoter of Nazara Technologies,has sold 48,84,000 equity shares, representing 6.38% of the issued share capital to Plutus Wealth Management LLP through an on-market transaction in the block deal window of the stock exchange (Block Trade) on 27 May 2024.
The Block Trade will provide liquidity for the promoters who have dedicated 25 years to the Company's growth. The promoters will retain control of the Company, with Nitish Mittersain continuing in his current role as CEO & Jt. Managing Director.
The promoters remain confident that the Company is strategically and financially well positioned to capitalize on the numerous opportunities ahead.
Plutus Wealth Management LLP, an investor in Nazara since 2020 (pre-IPO), has demonstrated strong confidence in the Company's prospects by increasing its shareholding via this Block Trade.
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