Shares of Nazara Technologies surged 5.58% to ₹280.85 on the NSE on May 15, rising ₹14.85 from the previous close, after two large block deals totalling 4.90% of the company’s equity were executed in the opening minutes of trade at ₹266 per share.
The first block deal involved 1,47,76,161 shares worth ₹393.05 crore, while the second involved 35,02,601 shares worth ₹93.05 crore — bringing the combined transaction to 1,82,78,762 shares for a total consideration of ₹486.10 crore. Both deals were executed at ₹266 per share, a discount of approximately 5.3% to the previous day’s close of ₹266 on a volume-weighted basis, and the stock’s subsequent rally to ₹280.85 suggests the buyer or buyers absorbed the supply comfortably. The identity of the buyer and seller in both transactions has not been disclosed as of the time of writing.
The block deals follow Nazara’s Q4FY26 results, reported on May 14, which showed a sharp improvement in profitability even as revenue continued to contract on a year-on-year basis. Consolidated net profit nearly tripled to ₹46.96 crore in Q4FY26 from ₹15.86 crore in the year-ago quarter, and surged nearly fivefold sequentially from ₹9.84 crore in Q3FY26. Revenue from operations fell 23.53% year on year to ₹397.78 crore from ₹520.2 crore, reflecting the continued impact of NODWIN Gaming’s deconsolidation from the reported numbers.
The profit recovery was materially aided by other income of ₹50.69 crore — significantly higher than ₹18.71 crore in Q4FY25 and ₹11.34 crore in Q3FY26 — and a 27.1% year-on-year reduction in advertising and business promotion expenses to ₹110 crore from ₹151 crore. The cost discipline, combined with the elevated other income line, drove the bottom-line recovery even as organic revenue performance remained under pressure.
On the operational side, AdTech revenue for FY26 grew 32% year on year to ₹454 crore with EBITDA from the segment up 32% as well. Sports media asset Sportskeeda delivered FY26 EBITDA of ₹18 crore on revenue of ₹147 crore, with contributions from Pro Football Network and other newly added media properties supporting consolidated performance. NODWIN Gaming reported 25% organic revenue growth during FY26.
Nazara also announced two board-level additions: Mithun Sacheti, founder of CaratLane, as a Non-Executive Director, and Muraarie Rajan as an Independent Director carrying over 35 years of global mergers and acquisitions experience. The board strengthening accompanies the company’s recently announced acquisition of a 50% stake in Bluetile and BestPlay for approximately $100.3 million — businesses that reported $153.6 million in revenue and $27.7 million in EBITDA for 2025, acquired at 1.3 times gross revenue and 7.2 times EBITDA. The deal significantly expands Nazara’s international gaming footprint and is expected to be a material revenue contributor in FY27.
The combined ₹486.10 crore block deal on May 15, with buyer and seller yet to be formally identified, is being watched closely as a potential signal of institutional repositioning ahead of the Bluetile-BestPlay integration and the FY27 earnings recovery cycle.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.