Nitish Mittersain, Founder, Chief Executive Officer and Managing Director, Nazara Technologies
Nazara Technologies’ Board of Directors approved fundraising via issuance of 2.39 crore equity company shares, garnering up to ₹733.50 crore on a preferential basis, with future-CEO Raymond Stauffer investing nearly ₹583 crore.“The Board has approved funds raising by way of issuance of up to 2,39,70,676 fully paid-up equity shares of the Company having face value of ₹2 each, for cash, at an issue price of ₹306 per share (including premium of ₹304/- per share), aggregating up to ₹7,33,50,26,856, on preferential basis, to identified investors,” said Nazara in its stock exchange filing.The proceeds from the preferential issue will be deployed towards strategic acquisitions, growth initiatives for existing gaming businesses, investment in IP, AI-enabled game development and operating capabilities, among other opportunities for Nazara’s global gaming strategy.Leadership team backs company’s growth plansThe issue will be subscribed entirely by the founders and senior leadership team of Bluetile Games and BestPlay Systems. The company will allot 1.90 crore shares to Stauffer, who will assume the role of CEO starting September 1. This will mean a 4.67 per cent shareholding post-preferential issue for Stauffer.“I’m reinvesting a substantial portion of the proceeds from Bluetile and BestPlay back into Nazara. I’m doing this with a lot of optimism. The next chapter for the Company is the most exciting yet. Nazara has the platform, balance sheet, and ambition to build a global gaming business. We also have a real opportunity to drive operating efficiencies. I’m excited to play a meaningful role in that,” said Raymond Albaladejo Stauffer, Chief Executive Officer, Bluetile.Other investors are Schutze Marc Sylvester, Maxime Loppin, Alexandre Paul Jean Noirot Cosson, Alexander Osou and Hugo Rémy Gaston Blavin.“The decision by Raymond and the Bluetile and BestPlay leadership team to invest approximately ₹734 crore of their own capital into Nazara is a powerful endorsement of the global platform we have built over the last few years,” said Nitish Mittersain, Founder, Chief Executive Officer and Managing Director, Nazara Technologies.Company proposes to increase authorised share capitalThe company also proposed to increase Nazara’s authorised share capital from ₹80 crore, divided into 40 crore equity shares of ₹2 each, to ₹90 crore, divided into 45 crore equity shares of ₹2 each, by creating an additional 5 crore equity shares of ₹2 each, ranking on equal footing with the existing equity shares of Nazara.Published on August 6, 2026
