Rakesh Jhunjhunwala Portfolio Stocks: The board of Nazra Technologies has fixed June 27, 2022 as the record date for the proposed bonus issue of shares. With its Q4 results, the company’s board approved a bonus of one share for each share held by the shareholders.
“It is hereby informed that the Board of Directors of the Company has fixed Monday, the 27th June, 2022 as the record date for the purpose of ascertaining the eligibility of the shareholders for issue of Bonus Equity Shares of the Company in the ratio of one 4/- new fully paid-up equity share of Rs.4/- each for the existing equity share of Rs.4/- is fully paid-up,” Nazara Tech informed in an exchange filing this week.
What is Bonus Share Issue?
Bonus shares are additional shares granted at no additional cost to existing shareholders, based on the number of shares a shareholder owns. These are the accumulated earnings of the company which are not paid in the form of dividend, but are converted into free shares. Companies issue bonus shares to encourage retail participation and increase their equity base. When the price per share of a company is high, it becomes difficult for new investors to buy shares of that particular company. An increase in the number of shares reduces the price per share. But even if bonus shares are declared, the total capital remains the same.
The company will issue 1 new fully paid-up bonus equity share of Rs.4 for 1 existing equity share (1:1).
The company said the bonus issue is subject to the approval of the shareholders, which is being achieved through remote e-voting through postal ballot.
Nazara Technologies is one of the leading mobile game companies. It is India’s leading diversified gaming and sports media platform with a presence in emerging and developed global markets such as Africa and North America, offering interactive gaming, eSports and a gamified early learning ecosystem.
Nazra Technologies Q4 Performance
Digital gaming and sports platform Nazar Technologies reported nearly 17 per cent growth in consolidated profit at Rs 4.9 crore for the quarter ended March 2022. The company had made a profit of Rs 4.2 crore in the same period a year ago.
Revenue from operations grew nearly 42 per cent to Rs 175.1 crore during the reported quarter, from Rs 123.4 crore in the year-ago period.
“I am pleased to report that we have exceeded our revenue and EBITDA guidance for fiscal year 2012, despite headwinds in real money gaming due to changes in Apple policies and regulatory environment. India and the negative impact of COVID-19 in the export segment,” Manish Agarwal, CEO, Nazara Technologies said in a statement.
Rakesh Jhunjhunwala Share Holding Pattern
Indian veteran investor and stock market trader Rakesh Jhunjhunwala holds 10.10 per cent stake in the gaming tech company as of March 2022, as per the shareholding pattern of BSE.
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