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Rekha Jhunjhunwala cashes out Rs 374 Cr from Nazara in June

EntrackrEntrackr · 6m ago
Rekha Jhunjhunwala cashes out Rs 374 Cr from Nazara in June
Medial

Rekha Jhunjhunwala, wife of the late Rakesh Jhunjhunwala, has trimmed her stake in gaming services provider Nazara Technologies Limited during June, as per data available on the BSE. Rekha Jhunjhunwala offloaded 29.75 lakh shares of Nazara Technologies between June 2 and June 10. Based on the average trading price of Rs 1,256.5 during this period, the sale is estimated to be worth around Rs 374 crore. According to the disclosure filed with the Bombay Stock Exchange, Rekha Jhunjhunwala’s shareholding in Nazara Technologies dropped from 7.05% (61.83 lakh shares) as of June 1, 2025, to 3.66% (32.08 lakh shares). As per the shareholding pattern as of March 2025, SBI Mutual Fund holds an 8.37% stake in the company, while Plutus Wealth Management owns 11.54%. NK Squared along with Kamath Associates, both linked to Nikhil Kamath, collectively hold a 3.72% stake. Last month, the Competition Commission of India (CCI) approved the acquisition of a majority stake and control over Nazara Technologies Limited by Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol Private Limited. Nazara Technologies has completed four acquisitions in 2025 so far. In January, it acquired two popular mobile game titles King of Thieves and CATS: Crash Arena Turbo Stars from ZeptoLab for $7.7 million. In May, the company acquired UK-based game publisher Curve Games for Rs 247 crore. During the same month, its subsidiary Sportskeeda acquired wrestling news platforms TJRWrestling.net and ITRWrestling.com from Titan Insider Digital in an all-cash deal worth Rs 10.5 crore. On the financial front, Nazara Technologies reported revenue of Rs 520 crore in the final quarter of the previous fiscal year, along with a profit of Rs 4 crore. For the full year FY25, the company recorded a 40.8% year-on-year growth in total income, to Rs 1,715 crore from Rs 1,218 crore in FY24. Nazra is currently trading at Rs 1,276.5 with a total market capitalization of Rs 11,184 crore (approximately $1.31 billion).

Exclusive: Cloud telephony platform Exotel suffers data breach

EntrackrEntrackr · 1y ago
Exclusive: Cloud telephony platform Exotel suffers data breach
Medial

Cloud telephony platform Exotel has suffered a data breach that may have compromised details of its clients, sources familiar with the matter told Entrackr. “A massive data breach was reported on Friday which happened last week. Exotel works with many large companies, including financial institutions and their data have been breached,” said one of the sources requesting anonymity. The company’s chief executive Shivakumar Ganesan also did a town hall or emergency meeting on Friday, the person said. Confirming the data breach, an Exotel spokesperson said, “We recently identified unauthorized access to one of our cloud Infrastructure stamps in Singapore and acted swiftly to contain the issue. Importantly, no sensitive personal or financial information was compromised.” “The breach was limited and majority customers were not affected. We have already notified those impacted, providing them with detailed information and recommended steps to mitigate any potential risks,” the spokesperson added. The 13-year-old firm offers voice and SMS contact center capabilities for businesses to manage their customer engagement over the cloud. Besides India, it operates in the UAE, Indonesia, Africa, and the US. Another source said that Exotel stores call recordings and SMS of its clients on the cloud. “AWS private keys got breached from some developer. The hackers got access to the database and source code. Zomato, Khatabook and others became victims of the breach,” added the source. In a response to this, Exotel’s spokesperson clarified, “While we store call recordings and SMS of clients on the cloud none of these have been accessed or impacted in this incident.” Confirming the data breach to Entrackr, a Zomato spokesperson said, “We have been made aware of the data breach at Exotel. So far, from what we know, our merchant and customer data is fully secure and no payment related sensitive information has been compromised. Our teams are actively working with Exotel to ascertain more details on the ongoing investigation.” Entrackr has reached out to Khatabook to verify this. The Steadview Capital and A91 Partners-backed company reported a 32.1% spike in its collection to Rs 420 crore whereas its losses jumped 2.5 fold to Rs 109 crore. It is yet to file its annual report for FY24 but the firm projected a 50% revenue growth for the last fiscal year (FY25). Exotel directly competes with Knowlarity, MyOperator, Ozonotel, and Tata Communications, and a few others. Peak XV-backed Knowlarity was acquired by conversational messaging unicorn Gupshup in a $100 million deal in February 2022.

Greater Than gin maker Nao Spirits’ losses double in FY25

EntrackrEntrackr · 13d ago
Greater Than gin maker Nao Spirits’ losses double in FY25
Medial

NAO Spirits, the maker of Greater Than and Hapusa gins, saw its momentum reverse in FY25. After posting 2.45X revenue growth in FY24, its revenue dipped by over 25% in FY25, while its losses also doubled during the year. Nao Spirits' gross revenue declined by 25.6% to Rs 60.46 crore in FY25 from Rs 81.26 crore in FY24, its consolidated annual financial statements sourced from the Registrar of Companies (RoC) shows. Founded in 2015 by Anand Virmani, Abhinav Rajput, Aparajita Ninan, and Vaibhav Singh, Nao Spirits is an India-based craft distillery known for its premium gin brands Greater Than and Hapusa. The sale of these gins remained the company’s sole source of revenue. While most of Nao Spirits’ revenue comes from the Indian market, its export earnings stood at Rs 1.13 crore in FY25. With revenue falling more than 25 percent in FY25, Nao Spirits also saw a proportional reduction in its largest cost centre, which is excise duty. The duty expense declined 22.6 percent to Rs 33 crore from Rs 42.9 crore in FY24, although it still accounted for 36 percent of total costs and more than half of the company’s revenue. Nao Spirits’ cost of procurement fell 13 percent year-on-year to Rs 14.91 crore in FY25. The company also spent Rs 13.42 crore on advertising and business promotion, which declined 24 percent during the year. These two cost heads accounted for 16.2 percent and 14.6 percent of the company’s total expenses, respectively. Employee benefit expenses rose 30 percent to Rs 10.73 crore. Legal, travel, rent, and other overheads brought the company’s total expenses to Rs 92 crore in FY25, remaining largely unchanged compared to FY24. The drop in sales for the Goa-based company in FY25 doubled its losses to Rs 30.25 crore compared to Rs 14.6 crore in FY24. Its EBITDA margin weakened to -38.07%, with an EBITDA loss of Rs 23 crore. The expense-to-revenue ratio stood at 1.52. As of March 2025, the company reported total current assets of Rs 23.7 crore, which included a cash and bank balance of Rs 1.13 crore. In June 2025, Diageo India (United Spirits Ltd) acquired Nao Spirits for Rs 130 crore ($15 million). Prior to the acquisition, Nao Spirits had raised a total of Rs 54 crore ($6.5 million) across five funding rounds. So far the deal has followed a standard template of rising losses and slowing topline, linked to balance sheet cleanups. The drop in topline is worrying for Nao spirits, and beyond the parent firm, points to the volatile nature of the market in India. From consumer tastes to state policies to rising competition from other local craft brands. Gin as a category remains under 2% of the overall market, with a concentration in urban markets. There is always the risk of getting lost in the priorities of a large seller like Diageo. Thus, beyond greater distribution reach, it remains to be seen if Nao spirits recovers its growth momentum as a stylish Gin for its consumers.

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