Nazara Technologies announced its unaudited consolidated financial results for the quarter ended June 30, 2026, along with key strategic decisions. The board approved revised terms for the acquisition of Bluetile Games and Bestplay Systems, increasing the stake to 100%. Investments in Funky Monkeys Play Center and Smaaash Entertainment were also approved. Additionally, the company announced leadership changes, including the appointment of a new CEO and an independent director, alongside the resignation of its current CEO from that specific role.
Financial Results and Strategic Approvals
Nazara Technologies Limited announced its unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. The Board of Directors took note of the limited review report from the statutory auditors. The company also approved further investment in Funky Monkeys Play Center Private Limited, not exceeding INR 9.9 Crores, aiming to increase its shareholding to approximately 68.1%. A loan of up to INR 24 Crores was also sanctioned to Smaaash Entertainment Private Limited.
Acquisition Deal Refinement
Further to its earlier disclosure regarding the acquisition of Bluetile Games, S.L. and Bestplay Systems, S.L. through its subsidiary Nazara UK, the Board granted in-principle approval to proceed with the acquisition on revised commercial terms. This involves entering into an Amended and Restated Share Purchase Agreement that supersedes the original SPA. Under the revised terms, Nazara UK will acquire 100% of the share capital of each target company at closing, with an aggregate fixed consideration of approximately USD 303.02 million.
Leadership and Governance Changes
In terms of governance, the Board approved the appointment of Mr. Con Anthony Conlon as an Additional Director in the category of Independent Director for a term of five years, effective August 03, 2026, subject to shareholder approval. Mr. Raymond Albaladejo Stauffer has been appointed as the Chief Executive Officer (KMP), effective September 01, 2026, or upon receipt of necessary approvals. Concurrently, Mr. Nitish Mittersain has tendered his resignation from the office of Chief Executive Officer (CEO), effective September 01, 2026, while continuing as Managing Director. The Board also accepted the resignation of Mr. Arun Vijaykumar Gupta as an Independent Director, effective August 04, 2026.
Capital Infusion and Share Allotment
The company disclosed the allotment of 9,00,000 fully paid-up Equity Shares to Founders Collective Fund pursuant to the conversion of warrants. This led to an increase in the issued, subscribed, and paid-up equity share capital from INR 76,75,92,048 to INR 76,93,92,048.
Source: BSE
