The Board of Directors of Nazara Technologies Limited approved a major fundraising initiative through the preferential issuance of 1,92,31,000 Warrants to identified investors at an issue price of ₹260 per Warrant, aggregating up to ₹500.006 crore. Additionally, the Board sanctioned an unsecured loan of up to ₹4 crore to its wholly-owned subsidiary, Smaaash Entertainment Private Limited. An Extraordinary General Meeting (EGM) is scheduled for April 30, 2026, to seek shareholder approval for the Warrant issuance.
Board Approves Major Preferential Allotment
At the Board meeting held on Monday, March 30, 2026, Nazara Technologies Limited sanctioned the issuance of a significant number of Convertible Warrants on a preferential basis. The key details of this allotment are as follows:
- Securities Type: Convertible Warrants, each convertible into one fully paid-up equity share of face value of INR 2/-.
- Total Warrants: 1,92,31,000 Warrants.
- Issue Price: INR 260/- per Warrant, which includes a premium of INR 258/-.
- Total Aggregate Value: Up to INR 500,00,60,000/- (Five Hundred Crores Sixty Thousand Only).
- Tenure: The tenure of the Warrants shall not exceed 18 (Eighteen) months from the date of allotment, exercisable in tranches.
Key Investors Identified
The allotment is proposed to Five (5) identified investors. The investors and the maximum number of Warrants to be allotted are:
- Riambel Capital PCC-RCC1: 94,85,000 Warrants.
- S Gupta Family Investments Private Limited: 40,00,000 Warrants.
- Plutus Investments and Holding Private Limited: 38,46,000 Warrants.
- Classic Enterprises: 10,00,000 Warrants.
- Founders Collective Fund: 9,00,000 Warrants.
Post-allotment, assuming full conversion, the total shareholding of these five entities combined is projected to be 6.57% of the total issued capital.
Loan Sanctioned to Subsidiary
In a separate resolution, the Board approved the granting of an unsecured loan to a wholly-owned subsidiary.
- Beneficiary: Smaaash Entertainment Private Limited (“Smaaash”).
- Maximum Amount: Not exceeding INR 4,00,00,000/- (Indian Rupees Four Crores Only).
- Disbursement: The loan may be given in one or more tranches, subject to the execution of definitive agreements.
Shareholder Approval Required
To proceed with the proposed Warrant Issue detailed in point 1, the Company will convene an Extra-Ordinary General Meeting (“EGM”) of the shareholders. This EGM is scheduled to take place on Thursday, April 30, 2026, via video conferencing or other audio-visual means, specifically to secure the necessary shareholder approval for the capital raise.
Source: BSE
