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.
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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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