Long before Nazara Technologies became India's first listed gaming company, Nitish Mittersain was a teenager running a local dial-up chat service from his bedroom in Mumbai.
One of the regular users of the platform turned out to be Bollywood legend Shammi Kapoor, an early internet enthusiast. What began as an online interaction soon developed into a mentorship, with Mittersain spending time learning about technology and the internet from Kapoor. The relationship would become one of the early influences behind the launch of Nazara in 1999.
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Building Through Every Internet Cycle
Mittersain's entrepreneurial journey closely mirrors the evolution of India's digital economy.
He launched Nazara during the dot-com era, survived the technology crash that followed, and kept the business afloat by adapting to emerging opportunities such as mobile content and telecom services. As consumer internet usage expanded, Nazara steadily evolved from a mobile entertainment company into a diversified gaming and esports platform.
The company eventually entered the public markets, becoming India's first listed gaming-focused company and one of the country's most prominent gaming businesses.
Why Is He Stepping Down?
After nearly 27 years leading the company, Mittersain believes Nazara has reached a stage where its priorities have changed.
The challenge is no longer survival or proving the business model. Instead, the focus is on scaling the company further, strengthening its consumer-facing presence and pursuing global opportunities.
To support that shift, Nazara is transferring day-to-day operational leadership to a professional management team led by CEO Raymond Stauffer, alongside a larger role for CaratLane founder Mithun Sacheti.
A Company Armed for Expansion
Mittersain is stepping aside at a time when Nazara is preparing for its next growth phase. The company has recently strengthened its balance sheet through fresh fundraising and plans to deploy significant capital toward acquisitions, particularly in international gaming markets. Europe is expected to be a major focus as Nazara looks to expand its global footprint through strategic deals.
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