Nazara Technologies Limited announced its Board of Directors’ meeting on August 3, 2026. Key outcomes included the approval of the unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. The Board also granted in-principle approval for Nazara UK to proceed with revised terms for the acquisition of Bluetile Games and Bestplay Systems, further investment in Funky Monkeys Play Center, and a loan to Smaaash Entertainment. Executive appointments and resignations were also noted.
Nazara Technologies Board Meeting Highlights
Financial Results and Strategic Acquisitions
The Board of Directors of Nazara Technologies Limited convened on August 3, 2026, approving the unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. Accompanying the results was a limited review report from the Statutory Auditors.
Further to its earlier disclosure, the Board granted in-principle approval for Nazara Technologies UK Limited, a wholly-owned subsidiary, to proceed with the acquisition of Bluetile Games S.L. and Bestplay Systems S.L. on revised commercial terms. This involves entering into an Amended and Restated Share Purchase Agreement, which will supersede the original SPA upon execution. The revised terms eliminate stock consideration, releasing Nazara Technologies Limited from its prior SPA obligations.
Investments and Financing
The company will further invest up to INR 9.9 Crores in Funky Monkeys Play Center Private Limited, a subsidiary, through a combination of primary subscription and secondary acquisition. This investment is expected to increase Nazara’s shareholding in FunkyMonkeys to approximately 68.1% on a fully diluted basis. Additionally, an unsecured loan of up to INR 24 Crores will be granted to Smaaash Entertainment Private Limited, another wholly-owned subsidiary.
Leadership Changes and Appointments
The Board approved the appointment of Mr. Con Anthony Conlon as an Additional Director in the category of Independent Director, for a first term of 5 years commencing from August 3, 2026, subject to shareholder approval.
Mr. Raymond Albaladejo Stauffer has been appointed as Chief Executive Officer (KMP) of the Company, effective September 1, 2026, or upon receipt of all necessary statutory approvals. Concurrently, Mr. Nitish Mittersain has resigned from the position of Chief Executive Officer (CEO) of the Company, effective September 1, 2026, while continuing in his role as Managing Director.
The Board also noted the resignation of Mr. Arun Vijaykumar Gupta as an Independent Director, effective August 4, 2026, due to increased professional commitments.
Warrant Conversion and Share Capital Update
Further to a prior disclosure, the allotment of 9,00,000 fully paid-up Equity Shares to Founders Collective Fund, pursuant to the conversion of 9,00,000 Warrants, was noted. This conversion involved a payment of INR 17,55,00,000. The issued, subscribed, and paid-up equity share capital of the Company has consequently increased from INR 76,75,92,048/- to INR 76,93,92,048/-.
The equity shares allotted are subject to lock-in provisions as per applicable regulations.
Meeting Details
The Board of Directors meeting commenced at 6:30 p.m. and concluded at 7:25 p.m. on August 3, 2026.
Source: BSE
