Nazara Technologies To Raise Rs 733.5 Crore Via Preferential Issue As New CEO Takes Charge
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The preferential shares will be priced at Rs 306 apiece with reference to the relevant date of July 31, 2026, under SEBI's ICDR norms, and the company has also approved raising its authorised share capital to Rs 90 crore from Rs 80 crore to facilitate the allotment. Separately, Nazara's June-quarter revenue fell 14% year-on-year to Rs 429 crore due to the deconsolidation of Nodwin Gaming, with the company swinging to a net loss of Rs 82 crore against a profit a year earlier.
Gaming company Nazara Technologies Ltd on Thursday approved raising up to ₹733.5 crore through a preferential issue of equity shares to six investors, including incoming Chief Executive Officer Raymond Albaladejo Stauffer, subject to shareholder and regulatory approvals.
The board approved the issuance of up to 2.39 crore equity shares at ₹306 apiece, aggregating ₹733.5 crore. The company will hold an Extraordinary General Meeting on August 30 to seek shareholder approval for the fundraise. The issue price has been determined with reference to July 31, 2026, in accordance with SEBI's ICDR regulations.
The issue will be subscribed entirely by the founders and senior leadership of Bluetile Games and BestPlay Systems. Raymond Albaladejo Stauffer, who will take over as Chief Executive Officer from September 1, will be allotted 1.91 crore shares, representing a 4.67% stake in the company after the issue, with an investment of about ₹583.5 crore.
The remaining shares will be allotted to Marc Sylvester Schutze, Maxime Loppin, Alexandre Paul Jean Noirot-Cosson, Alexander Osou and Hugo Remy Gaston Blavin, who will collectively invest about ₹150 crore. Following the allotment, the six investors will together hold a 5.87% stake in the company.
The fundraise coincides with a leadership transition at Nazara. Founder Nitish Mittersain will step down as Chief Executive Officer from September 1 and continue as Managing Director, while Stauffer, founder and former CEO of Bluetile Games and BestPlay Systems, will take over as CEO. Mittersain, who founded Nazara in 1999, will focus on long-term strategy, portfolio direction and key stakeholder relationships.
The company said the proceeds will be used to strengthen its balance sheet, support strategic acquisitions and growth initiatives across its gaming businesses, invest in owned intellectual property and AI-enabled game development capabilities, and pursue other opportunities aligned with its global gaming strategy.
Separately, the board also approved an increase in the company's authorised share capital to ₹90 crore from ₹80 crore, subject to shareholder approval, to facilitate the proposed allotment.
Mittersain said the decision by Stauffer and the Bluetile and BestPlay leadership team to invest nearly ₹734 crore of their own capital reflects confidence in Nazara's strategy and long-term growth opportunity. Stauffer said he was reinvesting a substantial portion of the proceeds from Bluetile and BestPlay into Nazara, citing confidence in the company's platform, balance sheet and ambition to build a global gaming business.
For the quarter ended June 30, Nazara reported a 14% year-on-year decline in revenue from operations to ₹429 crore, primarily due to the deconsolidation of Nodwin Gaming after reducing its stake in the esports company in August 2025. Excluding Nodwin, revenue grew about 9%. The company reported a consolidated net loss of ₹82 crore, compared with a profit of ₹36 crore in the year-ago period.
Shares of Nazara Technologies settled 1.1% higher at ₹352.65 on Thursday. The stock has gained about 26% so far this year.
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Rochelle Britto is a business journalist with 8+ years of experience in financial journalism. She covers equity markets, corporate earnings, IPOs, commodities and the economy.
As a reporter with leading business publications, she has tracked financial markets and covered sectors including banking and financial services, retail, consumer goods, advertising and e-commerce.
Outside work, she enjoys travelling, discovering local cultures and spending time in nature.
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