Nazara Technologies - Game On: Prabhudas Lilladher Initiates Coverage
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Prabhudas Lilladher Report
We initiate coverage on Nazara Technologies Ltd. with a positive view as it-
is a unique play on rising gaming culture, given Gen Z and millennials constitute ~65% of India’s population demographics,
has an early mover advantage in evolving Esports category (organised 82% unique Esports events with 73% share in total prize pool as of 2019),that is likely to disrupt traditional sports landscape in next four to five years and
offers a direct play on emerging Ed-Tech market via Kiddopia.
Nazara Technologies has created an enviable business model via selective acquisitions (buys stake in gaming companies and lets erstwhile promoters run the show) to ride on the expected gaming sector boom in India.
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