News Summary:
On March 9, 2026, Morgan Stanley Asia Singapore Pte acquired 28.85 lakh shares of Nazara Technologies for approximately Rs 69.2 crore at Rs 239.8 apiece through a block deal. Previously, on March 4, Nazara Technologies announced its Q2 FY26 revenues grew 65.1% to INR 526.5 crore, while EBITDA increased 146.4% to INR 62 crore. This follows the company's Q3 FY26 earnings report on February 9, where revenues reached INR 406 crore, a 24.1% decrease attributed to the deconsolidation of NODWIN Esports. Despite the revenue dip, EBITDA surged 29.4% to INR 67.8 crore, expanding margins to 16.7%. During this period, Nazara emphasized profitable user acquisition in Kiddopia, strategic investments in the Indian gaming ecosystem, and strong performance from subsidiaries like NODWIN, which returned to profitability. With approximately INR 700 crore in net cash, the company outlined plans to deploy funds for organic growth and additional mergers and acquisitions, specifically targeting gaming studios. Earlier, on February 6, Nazara Technologies' appeal against a tax demand of INR 28,396,324 and an equivalent penalty was rejected. The original demand related to the non-receipt of export proceeds within the stipulated time for FY 2017-18 and FY 2018-19.
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