Nazara Technologies Ltd has allotted 11.5 lakh shares to brothers Nithin Kamath and Nikhil Kamath, founders of broking firm Zerodha, on a preferential basis for Rs 100 crore. The gaming company, which is a part of Rakesh Jhunjhunwala's portfolio, recently allotted 28.66 lakh shares to seven investors for an aggregate of Rs 250 crore, at Rs 872.15 per share, it said in an exchange filing on March 2. This price is higher than Nazara Tech's Friday's closing price of Rs 757.
Plutus Wealth Management LLP has also been allotted 5.73 lakh shares for Rs 50 crore. Chartered Finance & Leasing Limited, ICICI Prudential ESG Fund, ICICI Prudential Flexicap Fund, and ICICI Prudential Technology Fund were allotted the remaining 11.46 lakh shares.
Nazara Technologies is a mobile gaming company and sports media platform based in Mumbai. In 2018, Rakesh Jhunjhunwala invested about Rs 180 crore in the company through a secondary transaction.
At 13:30 pm, shares of Nazara Technologies were down 2.4 percent at Rs 734.15 on NSE.
Shares of Nazara Technologies have declined by nearly 18 percent in the past six months.
Also Read | Nazara Technologies: Q3 results reveal mixed business trends
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
