Nikhil Kamath & Nithin Kamath bought 11,46,590 shares of this multibagger gaming stock via preferential issue; Jhunjhunwala family owns 65,88,620 shares!
The stock is up by 42.86 per cent in 1 year whereas the BSE Sensex Index is up by 22.64 per cent.
Nikhil Kamath & Nithin Kamath bought 11,46,590 shares of this multibagger gaming stock via preferential issue; Jhunjhunwala family owns 65,88,620 shares!
Nazara Technologies Ltd has announced the approval of the allotment of 28,66,474 fully paid-up equity shares at Rs 4 each, with a premium of Rs. 868.15 per share, totalling Rs. 2,49,99,95,299.10. The decision was made through a circular resolution passed on March 2, 2024, by the company's Board of Directors. The allotment was made on a preferential basis via private placement.
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Following is the list of allottees:
|
Sr. No
|
Name of the Allottees
|
Number of Equity Shares allotted
|
Aggregate Subscription Amount (in Rs)
|
|
1
|
Kamath Associates (Partnership Firm represented by its partners Nikhil Kamath & Nithin Kamath)
|
5,73,295
|
49,99,99,234.25
|
|
2
|
NKSquared (Partnership Firm represented by its partners Nikhil Kamath & Nithin Kamath)
|
5,73,295
|
49,99,99,234.25
|
|
3
|
Plutus Wealth Management LLP
|
5,73,295
|
49,99,99,234.25
|
|
4
|
Chartered Finance & Leasing Limited
|
2,86,647
|
24,99,99,181.05
|
|
5
|
ICICI Prudential ESG Fund
|
1,49,056
|
12,99,99,190.40
|
|
6
|
ICICI Prudential Flexicap Fund
|
2,52,250
|
21,99,99,837.50
|
|
7
|
ICICI Prudential Technology Fund
|
4,58,636
|
39,99,99,387.40
|
|
Total
|
2,866,474
|
2,49,99,95,299.10
|
Upon the above allotment, the paid-up equity share capital of the company stands increased as follows:
|
Particulars
|
No. of Equity Shares
|
Amount (Rs.)
|
|
Existing paid-up share capital
|
7,33,16,948
|
29,32,67,792
|
|
Post allotment paid-up share capital
|
7,61,83,422
|
30,47,33,688
|
Earlier, Nodwin Gaming Private Limited, material subsidiary of Nazara Technologies acquired 100 per cent stake in Ninja Global FZCO, UAE.
As we suggested to adopt a buy-on-dips strategy. In terms of stock-specific action in Nazara Technologies Ltd - Rakesh Jhunjhunwala and Nikhil Kamath gained Rs 33,04,19,293 and Rs 4,67,14,073, respectively, in just one day in this Small-Cap tech stock; a breakout is evident; don't miss the action! - here is the stock price hovering around its support zone probably a good level to add few quantities to the portfolio.
Within the framework of financial performance, sales for the quarter were Rs 320.4 crore, and EBITDA increased by 24 per cent year over year to Rs 37.7 crore. Even if revenue growth in Real Money Gaming and Ad Tech was slower, the robust growth in "Animal Jam" and "Sportskeeda" helped to contribute to the 24 per cent improvement in EBITDA. The EBITDA growth rate for the Esports category was an impressive 79 per cent year over year and reached the Rs 760 crore fundraising target for FY24 by securing a preferred placement with well-known investors.
Nazara Technologies Ltd has a market cap of over Rs 5,011 crore. The company is almost debt-free and its current debt is Rs 109 crore which is 2.17 per cent of its market cap.
The stock is up by 42.86 per cent in 1 year whereas the BSE Sensex Index is up by 22.64 per cent. Investors should keep an eye on this small-cap gaming stock.
Disclaimer: The article is for informational purposes only and not investment advice.