TIMF Holdings Buys 12 Lakh Shares Of Nazara In INR 105 Cr Bulk Deal

Nazara Partners ONDC To Launch In-Game Shopping Platform

SUMMARY

TIMF Holdings lapped up some of the shares offloaded by Gyaana Retreat and Services, Fashion Brands, and Parijata Trading at INR 872 apiece

TIMF Holdings is owned by US-based Think Investments, which counts the likes of Chaayos, Spinny, Dream11 and Swiggy in its portfolio

Shares of Nazara jumped almost 7% on June 28 after NODWIN Gaming announced increasing its existing 13.51% stake in Germany-based Freaks 4U Gaming to 100%

TIMF Holdings, which owns stake in IPO-bound FirstCry and PharmEasy, bought 12 Lakhs shares, or 1.57% stake, of online gaming major Nazara Technologies on Monday (July 1) in a bulk deal worth INR 104.64 Cr.

TIMF Holdings lapped up some of the shares offloaded by Gyaana Retreat and Services, Fashion Brands, and Parijata Trading at INR 872 apiece. They cumulatively sold 18 Lakh shares in the company today worth INR 157 Cr.

TIMF Holdings is owned by US-based Think Investments, which counts the likes of Chaayos, Spinny, Dream11 and Swiggy in its portfolio.

It is pertinent to note that shares of Nazara jumped almost 7% on Friday (June 28) after its esports subsidiary NODWIN Gaming announced increasing its existing 13.51% stake in Germany-based Freaks 4U Gaming GmbH to 100%.

Nazara witnessed high trading volume in today’s session with over 2.2 Mn shares traded together on the BSE and the NSE. The stock ended the session 1.8% higher at INR 884.8 on the BSE.

In May this year, Nazara Technologies’ promoter Mitter Infotech also sold 48.84 Lakh shares, or 6.38% equity, to Plutus Wealth Management in an on-market block deal.

Nazara’s promoters and promoter groups held a 16.43% stake in the company at the end of the quarter ended March 2024.

After witnessing a sharp slump from the beginning of the year, shares of Nazara have been rallying since the end of May. The shares have jumped over 43% so far since May 27, after the company published its Q4 and FY24 earnings.

The company’s consolidated net profit declined 98% year-on-year (YoY) to INR 18 Lakh in Q4, while operating revenue also declined 8% YoY to INR 266.2 Cr. However, certain metrics in its results were better than expected by analysts.