Nikhil Kamath, the co-founder of Zerodha, has announced plans for a substantial investment in Nazara Tech, a prominent gaming and sports media company. This investment, to be executed through preferential allotment, awaits approval from shareholders and regulatory authorities.
Nazara Tech’s Board Approves Share Issuance to Nikhil Kamath
Nazara Tech’s board has given the green light to issue shares worth Rs 100 crore to Kamath Associates & NKSquared, signaling their intent for a strategic partnership. However, the finalization of this investment is contingent on obtaining necessary approvals.
Kamath’s Belief in India’s Gaming Industry Growth
Nikhil Kamath’s decision to invest in Nazara Tech reflects his optimism about India’s gaming industry, which is poised for exponential growth in the coming years. With Nazara Tech’s strong market presence and a diverse gaming portfolio, he sees it well-positioned to leverage the opportunities arising from the industry’s expansion.
Nazara Tech entered the Indian stock market on March 30, 2021, with shares issued to IPO investors at a price of Rs 1101, having a face value of Rs 4. Nikhil Kamath’s investment comes at a price of Rs 714 per share, reflecting his confidence in the company’s future prospects.
