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Shares of gaming company Nazara Technologies saw a tremendous rise on Monday. Shares of the company on the Bombay Stock Exchange (BSE) rose over 10 percent to Rs. 839.15 has been reached. This increase in the shares of Nazara Technology is due to a special news. Indeed, Zerodha co-founders Nikhil and Nitin Kamat are increasing their stake in Nazara Technologies. The Jhunjhunwala family owns about 9.96% stake in Nazara Technologies.
Nikhil and Nitin are investing 100 crore rupees
Nazara Technologies said on September 4 that its board has awarded Zerodha founders Nikhil and Nitin Kamat Rs. 100 crore share issue has been approved. The gaming company has said in a regulatory filing that, ‘We would like to inform that the board of the company has approved the issue of 1400560 shares at a price of Rs 714 per share. The total value of the shares to be issued is Rs. is 99,99,99,840. These shares will be issued to Kamat Associates and Enquired.
Shares will be in lock-in period for 6 months
The equity shares of the company shall be subject to a lock-in period of 6 months from the date of issue. Kamat already owns around 1% stake in Nazara Technologies. With this investment, his stake in the company will now increase to around 3.5%. Shares of Nazara Technology have jumped 59% in the last 6 months. Shares of the company traded on BSE on March 6, 2023 at Rs. 528.45, which has now increased to Rs. 839.15 has been done.
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Disclaimer: The information provided here is only about stock performance and does not constitute investment advice. Investing in the stock market is subject to risk and you should consult your advisor before investing.