India has 600M+ mobile gamers — the world's second-largest gaming audience. Mobile gaming, fantasy sports (Dream11, MPL), and e-sports are all growing rapidly. The GST on online gaming was rationalized, and SEBI allows listed gaming ETFs. Nazara Technologies is the primary listed play.
5 companies in this theme — showing top 5 by market cap.
| Symbol | Company | Price | Mkt Cap | ROE | P/E |
|---|---|---|---|---|---|
| ETERNAL | Eternal Ltd | ₹284.4 | ₹2,78,075 Cr | 7.5% | 105.00 |
| NAZARA | Nazara Technologies | ₹304.7 | ₹5,644 Cr | — | — |
| DELTACORP | Delta | ₹62.86 | ₹1,683 Cr | — | — |
| SUBEXLTD | Subex | ₹12.69 | ₹704 Cr | — | — |
| ONMOBILE | OnMobile Global | ₹60.49 | ₹643 Cr | — | — |
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Nazara is India's only listed gaming company with diverse revenue streams (mobile games, e-sports, ad-tech). It's profitable and growing but trades at premium valuations.
Dream11 is India's largest fantasy sports platform with 200M+ users. It's unlisted (private unicorn at $8B valuation) and considering an IPO.