Business: Nazara Technologies has become the full owner of its subsidiary company Paper Boat Apps. The company has also bought the remaining 48.42 percent stake in Paper Boat. Earlier, the company had bought 50.91 percent stake in Paper Boat Apps in the year 2019. At that time the deal was done for Rs 83.5 crore. This deal was completed in 2020. Along with this, an agreement was made between the two companies regarding share purchase in the year 2019. Let us tell you that Paper Boat Apps is the developer of Kiddopia. This app is designed for children aged 2 to 7 years.

In how many crores the deal was completed

According to the report of Money Control, Nazara Tech has purchased a total of 5,157 equity shares in Paper Boat Apps. This is a total stake of 48.42 percent of the company. These shares have been purchased from the company's founders Anupam Dhanuka and Anshu Dhanuka. This deal has been completed for Rs 300 crore. Rs 225 crore has been paid as the first installment of the deal. The remaining amount will also be paid soon. It is worth noting that this agreement of Nazara Tech is being seen as an expansion of the gaming business.

Also bought UK-based Fusebox Games 

Earlier in the month, Nazara Tech had announced the purchase of UK's IP based gaming studio Fusebox Games. This deal has been completed for Rs 228 crore. Apart from this, the company also bought 28.12 percent stake in its subsidiary company Nextwave Multimedia. Nazara Tech bought the company's shares from the company's founders PR Rajendran, R Kalpana and PR Jayashree.

How is the condition of the company's shares

Talking about Nazara Tech's shares, the company closed at Rs 920 on Friday, down 2.5 per cent on the NSE. This year, the company's shares have risen by 7 per cent so far. In the last 12 months, the company's shares have risen by 4 per cent. At the same time, Nifty has risen by 29 per cent during this period. In such a situation, the performance of the company's shares has been very weak compared to Nifty.