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After Zerodha, SBI Funds invests in tech Nazara

A gaming and sports media platform, Nazara Tech will issue 57.42 lakh shares to SBI Funds at Rs 714 apiece on a preferential basis. The share award is in addition to the 14 lakh shares approved on September 4.

Shares of the gaming company are trading down 1.5 percent at this time, down for the second day in a row. However, over the past five days, the stock has gained 9.2 percent. The stock is up 42.08 percent in 2023.

India’s gaming market is expected to grow from $2.8 billion in 2022 to $5 billion in 2025, growing at a CAGR of 28-30%. According to the World Economic Forum (WEF), mobile devices are the main drivers of the gaming industry in India. Affordable internet and the availability of faster smartphones with enhanced gaming capabilities have also fueled the market.

The number of players in the country is expected to increase from 420 million in 2022 to 500 million in 2025.