Nazara Technologies Limited’s Board of Directors, in its meeting on August 3, 2026, approved 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 acquire Bluetile Games and Bestplay Systems on revised commercial terms, a further investment of up to INR 9.9 Crore in Funky Monkeys Play Center, and an unsecured loan of up to INR 24 Crore to Smaaash Entertainment. Key leadership changes were also announced, including the appointment of Mr. Raymond Albaladejo Stauffer as CEO and Mr. Con Anthony Conlon as an Independent Director.
Nazara Technologies Board Meeting Highlights
The Board of Directors of Nazara Technologies Limited convened on August 3, 2026, to discuss and approve several significant corporate actions, including the company’s financial performance and strategic initiatives.
Financial Results Approved
The Board reviewed and approved the unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. The limited review report from the Statutory Auditors was also noted.
Strategic Acquisitions and Investments
Bluetile and Bestplay Acquisition
Further to prior disclosures, the Board granted in-principle approval for Nazara UK, 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 supersedes the original SPA. The revised terms have removed stock consideration, releasing Nazara Technologies from its prior SPA obligations.
Funky Monkeys Play Center Investment
The company will further invest up to INR 9.9 Crore in Funky Monkeys Play Center Private Limited, a subsidiary, through a combination of primary subscription and secondary acquisition. This is expected to increase Nazara’s shareholding to approximately 68.1% on a fully diluted basis.
Loan to Smaaash Entertainment
An unsecured loan of up to INR 24 Crore will be granted to Smaaash Entertainment Private Limited, another wholly-owned subsidiary.
Key Appointments and Resignations
Board Appointments
Subject to shareholder approval, Mr. Con Anthony Conlon has been appointed as an Additional Director in the category of Independent Director for a term of five years, commencing August 3, 2026.
Leadership Changes
Mr. Raymond Albaladejo Stauffer has been appointed as the Chief Executive Officer (KMP) of the Company, effective September 1, 2026, subject to regulatory approvals.
Mr. Nitish Mittersain has resigned from the office of Chief Executive Officer (CEO) effective September 1, 2026, while continuing in his role as Managing Director. The Board expressed its appreciation for his contributions as CEO.
Mr. Arun Vijaykumar Gupta resigned as an Independent Director of the Company, effective August 4, 2026, due to increased professional commitments. The Board acknowledged his guidance and contributions.
Warrant Conversion and Share Capital Update
Following the allotment of 9,00,000 equity shares to Founders Collective Fund upon conversion of warrants, the Company’s issued, subscribed, and paid-up equity share capital has increased. The total equity share capital now stands at INR 76,93,92,048, divided into 38,46,96,024 equity shares of INR 2 each. The allotted shares are subject to lock-in provisions.
Meeting Details
The Board meeting commenced at 6:30 p.m. and concluded at 7:25 p.m.
Source: BSE
