Nazara Technologies Approves Rs 731 Cr Share Issue, Plans ₹743 Crore UK Investment

Gaming and esports company Nazara Technologies has approved a Rs 730.78 Cr preferential share issue and plans to invest up to Rs 742.72 Cr in its wholly owned UK subsidiary. The investment will help fund the second tranche of acquisition payments for gaming companies Bluetile Games and Bestplay Systems.

The decisions were taken at a board meeting on 12 October, according to the company’s regulatory filing. The company has also announced key leadership changes, including the redesignation of founder Nitish Mittersain as founder and non-executive director, subject to shareholder approval and other required clearances. He will continue to provide strategic guidance to the board.

Key Numbers to Know

• Rs 730.78 Crore: Planned fundraising through a preferential issue of equity shares.

• Rs 742.72 Cr: Proposed investment in Nazara Technologies UK to fund acquisition payments.

• Rs 306 Per Share: Issue price for 2,38,81,711 equity shares to be allotted to five individuals.

Nazara has also approved the appointment of Mithun Padam Sacheti, founder of jewellery retailer CaratLane, as an executive director for a five-year term, subject to shareholder approval.

Other leadership changes include whole-time director Rohit Sharma’s planned resignation effective 11 January 2027 and CFO Rakesh Shah’s departure on 15 October. Arun Agrawal will take over as CFO from 16 October, according to media reports.

In another financial move, Nazara has approved converting inter-corporate loans of up to Rs 129.35 crore given to Smaaash Entertainment into equity. It has also approved converting a loan of up to £23 million (around Rs 294.40 crore) given to Nazara Technologies UK into equity.

Both subsidiaries will remain wholly owned by Nazara, with no change in ownership or control. The planned UK investment is expected to be completed within 30 days of board approval, subject to applicable requirements.

These moves highlight Nazara’s focus on expanding its gaming business through acquisitions, strengthening its international operations and making changes to its leadership team.

The Unicorn Magazine