Nazara Technologies surges on reports of Nikhil Kamath-linked block deals

According to reports, Zerodha co-founder Nikhil Kamath and existing shareholder Axana Estates LLP were likely among the buyers in the transactions.

Reports further suggested that Nazara Technologies founder Nitish Mittersain was likely the seller in the block deals.

At the end of the March 2026 quarter, Nitish Mittersain held a 2.18% stake in the company, while Axana Estates LLP owned 5.4%.

Nikhil Kamath, through Kamath Associates, held a 1.62% stake in the company. NKSquared, the investment firm led by Nikhil Kamath and Nithin Kamath, held an additional 1.89% stake.

Nazara is India's only publicly listed gaming company with businesses spanning Kiddopia, Animal Jam, World Cricket Championship, Sportskeeda, Curve Games, Fusebox Games, Funky Monkeys, Smaash Entertainment and ad-tech unit Datawrkz. With operations across India, North America and other markets, it is building a global gaming platform with strong IP and publishing capabilities.

On a consolidated basis, Nazara Technologies reported a 305% jump in PAT from continued operations to Rs 56 crore in Q4 FY26, despite a 24% decline in net sales to Rs 398 crore compared with Q4 FY25.

The company said the YoY decline in revenue was primarily due to the deconsolidation of Nodwin from August 2025. Adjusted for the Nodwin impact, Q4 FY26 revenue grew 8% YoY.

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