Zerodha’s billionaire co-founder Nikhil Kamath is said to be considering buying a stake in Rekha Jhunjhunwala-backed Nazara Technologies.
What Happened: As per a CNBC report, Kamath is looking to pick up a 3.5% stake. The report added that he has already bought a 1% stake in the company. As per the CNBC report, the gaming company refused to make any comments.
The news comes on the back of the visionary founder expressing his views about the rise of gaming and e-sports in the country last month.
“Esports may be the opportunity to invest in, not IPL teams/cricket, which cost as much as EPL football clubs today. In my limited experience, the younger gen is less enamoured by cricket than my gen,” Kamath had written on X (formerly Twitter). However, the news seems to have not made much impact on the stock as it traded flat, at the time of writing.
Price Action: Nazara’s share price was up 0.21% to trade at ₹778.60 in early trade on Friday
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