SBI Mutual Fund Stake Sale in Nazara Technologies

SBI Mutual Fund has decreased its ownership in Nazara Technologies following a bulk deal on Monday. The mutual fund sold 45,09,360 equity shares of Nazara at an average price of Rs 240.18 each, resulting in a total deal value of approximately Rs 108 crore. Before this transaction, SBI MF had 2.14 crore shares, representing a 5.78% stake in Nazara. After the sale, this has reduced to 1.69 crore shares, now equating to 4.55% of the total paid-up equity.

Financial Overview of Nazara Technologies

Financially, Nazara Technologies experienced a 65% increase in operating revenue, reaching Rs 526 crore in Q2 FY26, up from Rs 319 crore in Q2 FY25. However, due to the implementation of the Promotion and Regulation of Online Gaming Act, Nazara accounted for a total reduction of Rs 914.70 crore in its investment in Moonshine Technologies.

Company Performance and Losses

In Q2 FY26, the company reported a loss of Rs 34 crore, in contrast to a profit of Rs 18 crore in Q2 FY25. On a half-yearly view, the company’s profit fell by 57.5%, declining to Rs 17 crore in H1 FY26 from Rs 40 crore in H1 FY25.

Acquisition Plans Affected

This August, Nazara abandoned its intention to acquire a minority interest in Moonshine Technology Private Limited, the parent entity of the online poker platform PokerBaazi. This decision was influenced by the enactment of the Promotion and Regulation of Online Gaming Act, 2025.

Market Performance

By the end of the trading session, Nazara’s shares were priced at Rs 252, leading to a total market capitalisation of Rs 9,355 crore, which is approximately $1 billion.