SBI Mutual Fund sells Nazara’s stake worth Rs 108 Cr via bulk deal

SBI Mutual Fund has trimmed its stake in Nazara Technologies through a bulk deal on Monday. The mutual fund house offloaded 45,09,360 equity shares of Nazara at an average price of Rs 240.18 per share, taking the total transaction value to around Rs 108 crore.

Prior to the deal, SBI MF held 2.14 crore shares, accounting for 5.78% stake in Nazara. Post the deal, its shareholding has come down to 1.69 crore shares, translating to 4.55% of the total paid-up equity.

Financially, Nazara’s operating revenue rose by 65% to Rs 526 crore in Q2 FY26 from Rs 319 crore in Q2 FY25.

With the enactment of the Promotion and Regulation of Online Gaming Act, Nazara recognized an aggregate reduction of Rs 914.70 crore in its investment done on Moonshine Technologies. 

The company recorded a loss of Rs 34 crore in Q2 FY26 as compared to a profit of Rs 18 crore in Q2 FY25. On a half-yearly basis the company’s profit declined 57.5% to Rs 17 crore in H1 FY26 from Rs 40 crore in H1 FY25.

In August this year, Nazara called off its plan to acquire a minority stake in Moonshine Technology Private Limited, the parent company of online poker platform PokerBaazi, due to the enactment of the Promotion and Regulation of Online Gaming Act, 2025.

At the end of the day, Nazra’s share was trading at Rs 252 with a total market capitalization of Rs 9,355 crore (approximately $1 billion).