SBI Mutual Fund Sells Stake in Nazara Technologies for Rs 216 Crore

SBI Mutual Fund divested a 2.43% stake in gaming company Nazara Technologies for Rs 216 crore through market transactions, reducing its holding from 5.78% to 3.35%. Despite the sale, Nazara's share price rose significantly on both BSE and NSE exchanges.

On Monday, SBI Mutual Fund divested a 2.43% stake in Nazara Technologies, a prominent gaming and e-sports company, for approximately Rs 216 crore in open market transactions.

According to data released from stock exchanges, SBI Mutual Fund sold a total of 90.09 lakh shares, effectively reducing its stake from 5.78% to 3.35%. The shares were sold at prices between Rs 240.03 and Rs 240.18 each.

Following the sale, Nazara Technologies saw its stock jump by over 6% on both the BSE and NSE. However, details regarding the buyers remain undisclosed.

(With inputs from agencies.)