Zerodha Founder Nikhil Kamat Invested Rs 100 Crore in Nazara Technologies

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How Zerodha Founder Nikhil Kamat Invested Rs 100 Crore in Nazara Technologies, India’s Leading Gaming Company

Nikhil Kamat, the co-founder and CIO of Zerodha, India’s largest online stock broker, has invested Rs 100 crore in Nazara Technologies, a diversified gaming and sports media platform. Nazara Technologies is one of the most successful gaming companies in India, with popular titles such as Ludo King, Carrom Clash, WCC, and Nodwin Gaming. The company also has a presence in global markets such as Africa, Middle East, and Southeast Asia.

Why did Nikhil Kamat invest in Nazara Technologies?

According to a regulatory filing by Nazara Technologies, the company’s board approved a preferential allotment of 14,00,560 equity shares to Kamath Associates and NKSquared, two partnership firms represented by Nikhil Kamat and his brother Nithin Kamat, who is also the co-founder and CEO of Zerodha. The shares were issued at a price of Rs 714 per share, aggregating to Rs 99.99 crore.

Nikhil Kamat revealed his intention to further increase his stake in Nazara Technologies, which currently stands at around 3.5%, up from 1%. He said that he is bullish on the gaming industry in India, which he believes has a huge potential for growth in the next decade. He also praised Nazara Technologies for its strong leadership, diversified portfolio, and scalable business model.

“I believe that gaming will be bigger than movies and music put together in the next 10 years. India has a young population that is more inclined towards gaming than any other form of entertainment. Nazara Technologies has been a pioneer in the Indian gaming industry and has built a solid reputation over the years. I am impressed by their vision, strategy, and execution capabilities and I am happy to be a part of their growth journey,” Nikhil Kamat said.

How will this investment benefit Nazara Technologies?

Nazara Technologies said that the investment from Nikhil Kamat will help the company to strengthen its balance sheet and pursue growth opportunities in the gaming sector. The company also said that it will benefit from Nikhil Kamat’s expertise and experience in the financial markets and technology space.

“We are delighted to welcome Nikhil Kamat as our shareholder and partner. He is a visionary entrepreneur and investor who has created immense value for his stakeholders. His investment in Nazara Technologies reflects his confidence in our business model, growth prospects, and long-term vision. We look forward to leveraging his insights and guidance to take our company to the next level,” Nitish Mittersain, founder and managing director of Nazara Technologies said.

What is the outlook for the gaming industry in India?

The gaming industry in India is one of the fastest-growing sectors in the country, with a revenue of $2.6 billion in 2022 and an expected revenue of $8.6 billion by 2027. The sector is driven by factors such as increasing smartphone penetration, affordable data plans, rising disposable income, changing consumer preferences, and favorable government policies.

India is also the world’s largest mobile gaming market in terms of app downloads, with over 400 million gamers and 500+ gaming studios. The country has also emerged as a hub for fantasy sports, e-sports, and skill-based games, with a user base of over 180 million. Some of the leading players in the Indian gaming industry include Dream11, Mobile Premier League (MPL), Paytm First Games, Games24x7, Octro, Moonfrog Labs, JetSynthesys, and Nazara Technologies.

The gaming industry in India offers immense opportunities for investors, entrepreneurs, developers, publishers, advertisers, and content creators to tap into a large and growing market with high engagement and monetization potential.

Conclusion

The gaming industry in India is a booming sector that offers immense opportunities for investors, entrepreneurs, developers, publishers, advertisers, and content creators. Zerodha founder Nikhil Kamat has recognized the potential of this sector and invested Rs 100 crore in Nazara Technologies, one of the leading gaming companies in India. This investment will help Nazara Technologies to grow its business and expand its reach in the global markets. It will also benefit Nikhil Kamat as he will gain exposure to a high-growth and high-return industry. The gaming industry in India is expected to witness exponential growth in the coming years, driven by the increasing demand and supply of quality gaming content and services.

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