India, March 8 -- Listed gaming major Nazara Technologies has received its board's approval to sell 94.85% stake in its subsidiary OpenPlay Technologies to online poker platform PokerBaazi's parent entity Moonshine Technology for INR 104.33 Cr.

As per the company's exchange filing, the deal will be executed through the issuance of 1,99,890 Moonshine's compulsory convertible preference shares (CCPS) at a face value of INR 10 each, to Nazara and other sellers.

Founded by Navkiran Singh in 2014, Moonshine Technology initially focussed on online poker (PokerBaazi) but later diversified into card games (CardBaazi), fantasy sports, and spectator gaming (SportsBaazi).

Post the deal, ClassicRummy game creator will become a subsidiary of Moonsh...