Nazara Tech trades lower after Board approves allotment of 28.67 lakh equity shares

Nazara Tech Share Price: Nazara Tech was trading lower on BSE on Monday (March 4, 2024) in the first trading session after the Board approved the allotment of 28.67 lakh equity shares.

The stock of the tech company slipped by 1.26 per cent, or Rs 9.65, at Rs 758.30 at 10:50 am on Monday. 

Nazara Tech's equity share allotment 

Nazara Tech said on Saturday that its Board has approved the allotment of 28.67 lakh equity shares at Rs 872.15 per share. 

The shares have been approved to allot from CMP at a premium of 13.7 per cent.

A total of 250 crore shares will be allotted to 7 allottees.

They include ICICI Prudential, Plutus Wealth Management, etc.

The board had raised funds on January 17 through private placement on a preferential basis.

The company's existing paid up share capital is Rs 29,32,67,792, and the number of shares is 7,33,16,948.

After allotment, the paid-up share capital will be Rs 30,47,33,688, while the number of shares will be 7,61,83,422.