Nazara Technologies approves Rs 1 bn share issuance to Zerodha Founders

07 Sep 2023 CW Team

Nazara Technologies, a publicly traded online gaming company, disclosed in a regulatory filing that its board has greenlit the issuance of shares valued at Rs 100 crore to entities overseen by Zerodha founders Nikhil and Nithin Kamath.

The proposed issuance comprises 1,400,560 equity shares, each with a face value of Rs 4, at a rate of Rs 714 per equity share. This totals Rs 99,99,99,840 and will be distributed proportionally between Kamath Associates and NK Squared.

As a result, Nikhil Kamath's ownership stake in the company will rise from 1% to 3.5%.

Nikhil Kamath, a partner at Kamath Associates and NKSquared, expressed optimism about India's gaming sector's robust future growth and commended Nazara for its well-established, profitable gaming platform. He pledged support for Nitish and his team in achieving Nazara's growth objectives.

These newly issued equity shares will be locked in for six months starting from the date of issuance. The fresh capital infusion will be allocated to fulfill the company's financial needs and expansion strategies, including potential acquisitions and investments in various enterprises.

CEO of Nazara Technologies, Nitish Mittersain, emphasised the significance of Nikhil Kamath's investment, citing it as a vote of confidence in Nazara's mission to develop a diverse gaming platform in India.

Analysts at brokerage firm Prabhudas Lilladher speculate that the funds may be directed towards expanding Nazara's presence in either the 'Freemium' or the 'Gamified Early Learning' segments, given the regulatory challenges facing real-money gaming (RMG) in light of the recent 28% GST Council tax announcement.

Dinesh Joshi, a Research Analyst at Prabhudas Lilladher, noted that while preferential allotment would result in a 2.1% equity dilution, Nazara operates in a high-growth gaming sector where scalability is paramount, potentially necessitating periodic dilutions, especially in the initial stages.

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..