Zerodha Broking spent ₹93.05 crore buying 35 lakh shares of Nazara Technologies. The move sees one promoter entity exit a huge chunk, while Zerodha co-founders' existing holding in Nazara nearly triples. This consolidates their prior bets on India's gaming sector.
How We Got Here
Zerodha co-founders Nikhil and Nithin Kamath already held 3.51% of Nazara through NKSquared and Kamath Associates by March quarter end. Their prior stake had already tripled from 32.55 lakh shares by March last year.
The Numbers
- Mitter Infotech LLP, a Nazara promoter entity, offloaded a total of 1.93 crore shares across the NSE and BSE.
- Another promoter entity, Axana Estates (Mithun Sacheti, Arpit Khandelwal), acquired 1.48 crore shares for ₹392.9 crore.
- Before the deal, Mitter Infotech held 6.09% or 2.26 crore shares, while the Kamath brothers' entities held 3.51%.
- Zerodha Broking's direct public market portfolio is typically limited to four other stocks, including CarTrade and Federal Bank.
What Happens Next
🇮🇳 Why This Matters for India
For Indian gaming founders and investors in cities like Pune and Hyderabad, this large-scale institutional betting signals continued confidence in the sector's long-term growth.
The Take
While Zerodha's increased stake grabs headlines, the real story is the large-scale restructuring of Nazara's promoter holdings, with Mitter Infotech making a calculated exit. Expect Axana Estates, now a larger shareholder, to push for strategic shifts within Nazara over the next 12-18 months.
Source:
Inc42 ↗