Nazara Technologies Limited announced that two of its wholly-owned subsidiaries, Sportskeeda Inc. and Kiddopia Inc., have entered into unsecured loan agreements with Nazara Technologies UK Limited. Sportskeeda Inc. will receive up to USD 517,000 (approximately INR 5.00 Crores), while Kiddopia Inc. will receive up to USD 1,230,000 (approximately INR 11.74 Crores). These loans are for general corporate purposes and working capital requirements.
Nazara Technologies Announces Inter-Company Loans
Nazara Technologies Limited has disclosed the execution of two unsecured loan agreements between its subsidiaries, dated July 29, 2026. These agreements are aimed at facilitating the financial operations and working capital needs of its subsidiary entities.
Loan Agreement I: Sportskeeda Inc.
Sportskeeda Inc., a wholly-owned subsidiary of Absolute Sports Private Limited, has entered into a loan agreement with Nazara Technologies UK Limited. Under this agreement, Sportskeeda Inc. will receive an unsecured loan for an aggregate amount not exceeding USD 517,000. This is equivalent to approximately INR 5.00 Crores and is intended to be used for business and general corporate purposes, including working capital requirements. The loan may be disbursed in one or more tranches, subject to applicable laws.
Loan Agreement II: Kiddopia Inc.
Similarly, Kiddopia Inc., a wholly-owned subsidiary of Paper Boat Apps Private Limited, has also entered into a loan agreement with Nazara Technologies UK Limited. Kiddopia Inc. is set to receive an unsecured loan for an aggregate amount not exceeding USD 1,230,000, which equates to approximately INR 11.74 Crores. This loan is also designated for business and general corporate purposes and working capital needs, with potential for multiple tranches and subject to regulatory compliance.
Related Party Transaction Details
The disclosure also clarifies that both transactions are considered related party transactions as they involve wholly-owned subsidiaries of Nazara Technologies Limited. However, they are exempted under Regulation 23(5)(c) of the Listing Regulations as they are between two wholly-owned subsidiaries. The company has confirmed that the promoter, promoter group, or group companies do not have any interest in these specific transactions. Both transactions are stated to be on an arm’s length basis.
Loan Outstanding Amounts
As of the disclosure date, the outstanding loan amount for Agreement I (Sportskeeda Inc.) is USD 1,34,49,190, and for Agreement II (Kiddopia Inc.) is USD 2,30,89,307. Both loans are unsecured, and no specific security has been provided to the lenders by the borrowers.
Source: BSE
