Nazara Technologies Limited’s Board of Directors convened on August 3, 2026, approving the unaudited consolidated financial results for the quarter ended June 30, 2026. The board also granted in-principle approval for revised acquisition terms of Bluetile Games and Bestplay Systems, a further investment in Funky Monkeys Play Center, and an unsecured loan to Smaaash Entertainment. Key leadership changes include the appointment of a new Chief Executive Officer and an Independent Director.
Financial Results and Strategic Approvals
Nazara Technologies Limited announced its unaudited consolidated financial results for the quarter ended June 30, 2026, following a meeting of its Board of Directors on August 3, 2026. The board took note of the Limited Review Report issued by the Statutory Auditors on these financial results.
Acquisition and Investment Updates
Bluetile Games & Bestplay Systems Acquisition
Further to previous disclosures regarding the acquisition of Bluetile Games, S.L. and Bestplay Systems, S.L. by Nazara Technologies UK Limited, 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, which supersedes the original SPA upon execution. As the revised terms do not include stock consideration, Nazara Technologies Limited will be released from its obligations as an original party to the SPA.
Investment in Funky Monkeys Play Center
The Board approved a further investment in Funky Monkeys Play Center Private Limited, a subsidiary, not exceeding INR 9.9 Crores in cash. This investment will be through a combination of primary subscription and secondary acquisition of equity shares. Following this, the company’s shareholding in FunkyMonkeys is expected to increase to approximately 68.1% on a fully diluted basis.
Unsecured Loan to Smaaash Entertainment
An unsecured loan of up to INR 24 Crores was approved for Smaaash Entertainment Private Limited, a wholly-owned subsidiary, to be disbursed in one or more tranches.
Leadership and Governance Changes
Appointment of Independent Director
Based on the recommendation of the Nomination, Remuneration and Compensation Committee, 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 member approval.
Appointment of Chief Executive Officer
The Board also approved the appointment of Mr. Raymond Albaladejo Stauffer as Chief Executive Officer (KMP) of the Company, effective from September 1, 2026, or another date determined by the Board upon receipt of all necessary regulatory approvals.
Resignation of Current CEO
Mr. Nitish Mittersain has tendered his resignation from the office of Chief Executive Officer (CEO), effective September 1, 2026, concurrent with Mr. Stauffer’s assumption of the CEO role. Mr. Mittersain will continue in his existing position as Managing Director, focusing on the Company’s long-term strategy, portfolio direction, strategic partnerships, and key stakeholder relationships.
Resignation of Independent Director
The Board took note of the resignation of Mr. Arun Vijaykumar Gupta as an Independent Director, effective from August 4, 2026, due to increased professional commitments.
Share Capital Update
The Company disclosed an increase in its issued, subscribed, and paid-up equity share capital from INR 76,75,92,048/- to INR 76,93,92,048/- consequent to the allotment of equity shares upon warrant conversion. The allotted equity shares will be subject to lock-in provisions as per the ICDR Regulations.
Source: BSE
