Nazara Technologies Limited’s Board of Directors, in a meeting on August 3, 2026, approved the unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. Key decisions also included in-principle approval for revised commercial terms for the acquisition of Bluetile Games and Bestplay Systems, further investment in Funky Monkeys Play Center, and the appointment of new directors and a new CEO.
Financial Results and Strategic Approvals
Nazara Technologies Limited announced today, August 3, 2026, that its Board of Directors has considered and approved the unaudited consolidated and standalone financial results for the quarter ending June 30, 2026. A limited review report from the statutory auditors on these financial results has also been taken note of.
Acquisition of Target Companies Revised
Further to previous disclosures, the Board granted in-principle approval to Nazara Technologies UK Limited 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 agreement. The revised terms remove stock consideration, releasing Nazara Technologies Limited from its original SPA obligations.
Investment in Funky Monkeys Play Center
The company will further invest up to INR 9.9 Crores in its subsidiary, Funky Monkeys Play Center Private Limited. This investment, made through a combination of primary subscription and secondary acquisition of equity shares, is expected to increase Nazara’s shareholding in FunkyMonkeys to approximately 68.1% on a fully diluted basis. FunkyMonkeys will continue to remain a subsidiary.
Unsecured Loan to Smaaash Entertainment
An unsecured loan of up to INR 24 Crores will be granted to Smaaash Entertainment Private Limited, a wholly-owned subsidiary of the Company.
Board Appointments and CEO Transition
The Board also approved the appointment of Mr. Con Anthony Conlon as an Additional Director in the category of Independent Director for a term of five years, subject to member approval. Effective September 1, 2026, Mr. Raymond Albaladejo Stauffer will assume the role of Chief Executive Officer (KMP). Concurrently, Mr. Nitish Mittersain will resign from the CEO position, continuing his role as Managing Director. The Board expressed appreciation for Mr. Mittersain’s contributions as CEO.
Director Resignations
The Board took note of the resignation of Mr. Arun Vijaykumar Gupta as an Independent Director, effective August 04, 2026, due to increased professional commitments.
Warrant Conversion and Share Capital Increase
Following the allotment of 9,00,000 fully paid-up Equity Shares to Founders Collective Fund upon conversion of warrants, the company’s issued, subscribed, and paid-up equity share capital has increased. The issued share capital now stands at INR 76,93,92,048, divided into 38,46,96,024 equity shares of INR 2/- each.
Meeting Details
The Board of Directors’ meeting commenced at 6:30 p.m. and concluded at 7:25 p.m. on August 03, 2026.
Source: BSE
