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Nazara Tech step-down subsidiaries hold Rs 64 cr at Silicon Valley Bank
Nazara's two step-down subsidiaries hold cash balance of USD 7.75 mn at Silicon Valley Bank
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Nazara Technologies announced that its two step-down subsidiaries Kiddopia Inc and Mediawrkz Inc have been given unrestricted access to the entire amount of USD 7.75mn (Rs 64 crore) that was held at Silicon Valley Bank (SVB).
From this amount, a sum of USD 7.25mn (Rs 60 crore) has been transferred to bank accounts outside of SVB and the balance amount of USD 0.5mn (Rs 4 crore) remains in SVB accounts for unrestricted operational use.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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