Nikhil Kamath, co-founder of Zerodha, a financial services firm, says that gaming will play a more significant role in the ecosystem in the next decade. This statement follows the approval of a Rs 100 crore share issuance to Nikhil and Nithin Kamath, Zerodha’s founders, by Nazara Technologies.
During an interview with CNBC TV-18 on September 4, Kamath shared his perspective on gaming and his investments in Nazara Technologies. He expressed his intention to further increase his stake in Nazara, which has already grown from 1 percent to approximately 3.5 percent.
Kamath highlighted the rapid growth of gaming, particularly among those under 20 years old, not just in India but globally. He believes that gaming and e-sports will outpace traditional content in terms of growth.
He praised Nazara as the dominant giant in India’s gaming industry and stated that investing in it was a logical choice for him. Kamath clarified that his investment in Nazara is personal and not related to Zerodha.
Kamath also discussed the fast-paced growth of e-sports and expressed hope that Nazara Technologies, an innovative Indian company in the e-sports and gaming sector, will one day compete with larger international players.
It was reported on September 1 that Nikhil Kamath was planning to increase his stake in the mobile gaming company.
— Nitish Mittersain (@mittersain) September 4, 2023
Also, “Nazara Technologies is well-positioned for robust growth in the gaming industry in India, with a profitable and diversified platform that is primed to capitalize on future opportunities. We are excited to support Nitish and his team as they pursue their ambitions for Nazara,” said Kamath in a statement.
“Nikhil Kamath represents success in the Indian tech sector, and his investment in our recent fundraise is of immense value to us at Nazara as we continue to develop a diversified gaming platform in India. His investment serves as a strong endorsement of Nazara,” stated Nitish Mittersain, CEO of Nazara Technologies.