Norges Bank, Norway’s central bank, through its Government Pension Fund Global, has acquired 719,000 shares of Nazara Technologies at 969.65 rupee (US$11.28) each, totaling an investment of 69.71 crore rupee (US$8.11 million).

This marks its first investment in Nazara.

As of Jan. 17, foreign portfolio investors held 11.25% of Nazara’s equity, with TIMF Holdings at 1.37%, Think India Opportunities Master Fund LP at 2.66%, and Cohesion Mk Best Ideas Sub-Trust at 1.31%.

Since its stock market debut in March 2021, Nazara’s performance has fluctuated. The stock is down 4.5% year-to-date but up 5.01% over the last month.

In Q3 FY25, the company reported a 53.5% drop in net profit to 13.7 crore rupee (US$1.59 million), despite a 66.8% increase in operating revenue to INR 320.4 crore (US$37.26 million).

Nazara has been actively expanding through acquisitions. Recently, it increased its stake in Absolute Sports Private Limited (Sportskeeda) to make it a wholly-owned subsidiary.

Recent Nazara Technologies developments