Gaming and sports media platform Nazara Technologies witnessed a drop in its shares after the company announced that two of its step-down subsidiaries Kiddopia Inc and Mediawrkz Inc held cash balances at Silicon Valley Bank, which is currently under the receivership of the Federal Deposit Insurance Corporation. Nazara Technologies said that the balances held at SVB by Kiddopia Inc and …
Indian gaming and sports media platform, Nazara Technologies' two step-down subsidiaries have cash balances of upto ₹64 crore at Silicon Valley Bank. Due to cash crunch concerns, the California department shut down SVB and made the Federal Deposit Insurance Corporation the receiver of the bank to handle depositors' money. In the regulatory filing, Nazara said, "step down subsidiaries Kiddopia Inc …
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