Nazara Technologies shares rallied 6% on 5 October after the company’s subsidiary acquired a 100% stake in a game marketing agency.

The company’s Singapore subsidiary of NODWIN Gaming has acquired a 100% stake in PublishME, a game marketing agency, for a sum of $2 million from its existing shareholders, Ozgur OZalp and NAzara Technologies.

Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming said, “This strategic acquisition not only brings in a host of new opportunities but also paves the way for a multitude of fresh possibilities for us as a leading gaming and esports media company.”

In September, the company received a tax demand of Rs 2.83 crore along with interest under section 0 of CGST. It also includes a penalty from the Director General of GST Intelligence, Mumbai.

The tax demand was received with respect to the export of services under LUT without realisation of export proceeds.

At 11:10 am, the shares of Nazara Technologies were trading at Rs 865.10 or 5.06% above its previous close on NSE.