Nazara Technologies plans Rs 500 crore fundraise to support acquisitions and growth

Nazara Technologies has announced plans to raise up to Rs 500 crore ($60 million) through a preferential issue of warrants, as the gaming firm looks to expand its global footprint and invest in acquisitions.

The company said it will issue around 1.92 crore warrants at Rs 260 each, with every warrant convertible into one equity share within 18 months, subject to shareholder and regulatory approvals. The issue price is above the regulatory floor price under applicable SEBI rules.

Investors participating in the round include Riambel Capital PCC, S Gupta Family Investments, Plutus Investment and Holding, Classic Enterprises, and Founders Collective. The participation from the Promoter Group at the issue price further reinforces alignment and long-term confidence in the Company’s growth strategy.

Nazara plans to use the proceeds to support strategic acquisitions and expand its existing business verticals. This includes previously announced deals involving Spain-based gaming firms Bluetile and BestPlay, aimed at strengthening its presence in the global casual and social gaming market. The company has agreed to acquire an initial 50% stake in the two businesses for about $100.3m, with a pathway to full ownership over time.

Nitish Mittersain, joint managing director and chief executive of Nazara Technologies, said the fundraising comes at a pivotal stage for the company.

“This ₹500 crore fundraise comes at an important phase in Nazara’s journey as we execute on our most ambitious growth initiatives, including the Bluetile and BestPlay acquisition,” he said.

“This fresh capital, combined with our acquisition strategy, positions Nazara to build globally scalable, AI-enabled gaming businesses and further strengthen our leadership in the sector.”

Following full conversion of the warrants, participating investors are expected to hold approximately 6.57% of the company.

Separately, Nazara said it has approved an unsecured loan of up to Rs 4 crore to its wholly owned subsidiary, Smaaash Entertainment, to be disbursed in one or more tranches.

The company will seek shareholder approval for the fundraising at an extraordinary general meeting scheduled for 30 April 2026.

The announcement comes amid weaker recent financial performance. Nazara reported a 24% year-on-year decline in operating revenue to Rs 406 crore in the third quarter of the 2025–26 financial year, while profit fell 36% to Rs 9 crore.