Nazara Technologies shares surged 18% following a significant block deal involving nearly 4.9% of the company's equity. Nikhil Kamath and Axana Estates are reportedly buyers, with founder Nitish Mittersain as the likely seller. The company reported a Q4FY26 revenue of Rs 398 crore, a 23% decrease year-on-year, but saw net profit jump over 13-fold to Rs 56 crore.

Nazara Technologies shares soar 18% amid reports of Nikhil Kamath upping stake in block deal

Synopsis

Nazara Technologies shares surged 18% following a significant block deal involving nearly 4.9% of the company's equity. Nikhil Kamath and Axana Estates are reportedly buyers, with founder Nitish Mittersain as the likely seller. The company reported a Q4FY26 revenue of Rs 398 crore, a 23% decrease year-on-year, but saw net profit jump over 13-fold to Rs 56 crore.

Shares of Nazara Technologies rallied as much as 18% to their day’s high of Rs 314 on the BSE on Friday after a large block deal involving nearly 4.9% of the company’s equity took place during the morning session.

As per a CNBC-TV18 report, Nikhil Kamath of Zerodha and existing shareholder Axana Estates are likely among the buyers in the transaction, while company founder Nitish Mittersain is believed to be the seller.

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

Nazara Tech Q4

Nazara Technologies reported revenue of Rs 398 crore for Q4FY26, down 23% from the year-ago period. However, net profit surged more than 13-fold to Rs 56 crore from Rs 4 crore reported a year earlier.

The company’s total expenses declined 29% to Rs 375 crore during the quarter, with advertising and business promotion expenses remaining the largest component of overall expenditure.

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Commenting on the company’s outlook, Nitish Mittersain said artificial intelligence is expected to significantly benefit the business and that the company is already actively investing in the space. He added that Nazara’s latest acquisition also has a strong AI focus, which is likely to strengthen capabilities further. Mittersain also welcomed Mithun Sacheti to the board as a non-executive director, citing his entrepreneurial experience and strategic expertise.

Among Nazara’s three core business segments of gaming, esports and ad tech, the gaming business emerged as the largest contributor during the quarter, with revenue rising 78% to Rs 278 crore.

Earlier this year, the company announced plans to raise Rs 500 crore through a preferential issue of warrants, attracting participation from Riambel Capital, S Gupta Family Investments, Plutus Investment and Holding, Classic Enterprises and Founders Collective.

Nazara also revealed plans to acquire a 50% controlling stake in Spain-based gaming studio Bluetile Games and its engagement platform BestPlay Systems for $100.3 million, or around Rs 918 crore, marking the company’s largest acquisition so far.

The company also approved fresh investments in Rusk Media and Ncore Games.

Nazara Technologies, India’s only listed gaming company, operates across mobile gaming, esports, ad tech and children’s edtech through brands including Kiddopia, Animal Jam, Fusebox Games, World Cricket Championship and Sportskeeda, along with offline entertainment brands Funky Monkeys and Smaaash Entertainment.

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