Mumbai : Nazara Technologies has approved an investment of up to ₹742.72 crore in its wholly owned UK subsidiary to fund the next phase of acquisitions involving Bluetile Games and Bestplay Systems. The company has also announced several leadership changes, approved a preferential share allotment worth approximately ₹730.78 crore and cleared the conversion of outstanding loans into equity.
The decisions were announced following a board meeting on October 12, 2026, marking a significant round of financial and organisational changes for the gaming and interactive entertainment company.
₹743 Crore Investment to Support UK Acquisitions
Nazara Technologies’ board approved an investment of up to USD 77 million, equivalent to approximately ₹742.72 crore, in its wholly owned subsidiary, Nazara Technologies UK Ltd.
The investment will be used to fund the second tranche of the purchase consideration for the acquisition of Bluetile Games SL and Bestplay Systems SL. The company plans to make the investment through a subscription to equity shares of the UK subsidiary, subject to applicable laws and regulatory requirements.
The move is expected to support the acquisition process and strengthen Nazara’s international gaming business.
Founder Nitish Mittersain to Move to Non-Executive Role
In a key leadership decision, Nazara Technologies founder Nitish Mittersain has been redesignated from Managing Director to Founder and Non-Executive Director.
Mittersain founded the company in 1999 and has built a career spanning the gaming and interactive entertainment industry.
The board has also approved the redesignation of Mithun Padam Sacheti from Non-Executive Director to Whole-Time Director and Executive Director for a five-year term.
Meanwhile, Whole-Time Director Rohit Sharma has tendered his resignation to pursue entrepreneurship. His resignation will take effect from January 11, 2027.
Arun Agrawal to Take Over as CFO
The company has announced a change in its finance leadership. Chief Financial Officer Rakesh Shah will step down at the close of business on October 15, 2026, to pursue an opportunity outside the organisation.
Arun Agrawal will assume the role of CFO from October 16, 2026. A chartered accountant with more than two decades of experience in finance and business strategy, Agrawal has previously held senior positions at companies including Ness Digital Engineering and Mastek.
The appointment comes as Nazara advances its acquisition plans and makes changes to its capital structure.
Preferential Allotment of Shares Worth ₹730.78 Crore
The board also approved the allotment of approximately 2.39 crore fully paid-up equity shares on a preferential basis at an issue price of ₹306 per share.
The allotment is valued at approximately ₹730.78 crore. Each share has a face value of ₹2, with the remaining ₹304 representing a premium. Five investors received shares under the issue, according to the company’s regulatory filing.
Following the allotment, Nazara Technologies’ paid-up equity share capital increased from approximately ₹76.94 crore to ₹81.72 crore.
The company said it would seek listing and trading approvals from the stock exchanges for the newly allotted shares.
Outstanding Loans to Be Converted Into Equity
The board has also approved the conversion of outstanding loans into equity share capital for two entities within the group.
The approved conversions include:
- Smaaash Entertainment Pvt Ltd: Outstanding loans of up to ₹129.35 crore.
- Nazara Technologies UK Ltd: Loans of GBP 23 million, equivalent to approximately ₹294.40 crore.
According to the company, the conversions are intended to strengthen the subsidiaries’ capital bases, improve their financial positions and support future growth. Both entities will continue to remain wholly owned subsidiaries of Nazara Technologies.
Strategic Expansion Alongside Leadership Restructuring
The latest decisions combine international acquisition funding with changes in leadership and capital management. The proposed UK investment is intended to support the acquisitions of Bluetile Games and Bestplay Systems, while the preferential allotment and loan-to-equity conversions will alter the group’s capital structure.
Investors will be watching how these measures support the company’s international expansion, financial position and future business performance.
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