- Nazara Technologies cut its preferential issue size to Rs 730.8 crore from Rs 733.5 crore
- Investor Hugo Remy Gaston Blavin removed due to missing document submission for listing approval
- The Rs 733.5 crore fundraise was initially planned from Bluetile Games and BestPlay Systems leaders
Nazara Technologies Ltd has revised the size of its preferential issue to Rs 730.8 crore from Rs 733.5 crore, reducing the proposed fundraising by Rs 2.72 crore, the company informed the exchanges on Saturday.
This comes after one of the proposed investors, Hugo Remy Gaston Blavin was not able to provide the required documents within the precribed timeline to obtain approval for listing, Nazara Tech said. The company's board, therefore approved his removal from the list of proposed allottees. This resulted in a Rs 2.72 crore reduction in the size of the preferential issue.
In August, 2026, Nazara Technologies Ltd announced its plan to raise Rs 733.5 crore through a preferential issue of equity shares, with the entire subscription coming from the founders and senior leadership team of Bluetile Games and BestPlay Systems.
The proposed allotment, subjected to shareholder and regulatory approvals, will be priced at Rs 306 per share, with the issue price determined in accordance with SEBI regulations based on July 31, 2026 as the relevant date.
The fundraise will be led by Raymond Albaladejo Stauffer, Nazara's chief executive officer from September 1. The company said the fresh capital will bolster its balance sheet and provide additional firepower for strategic acquisitions, expansion across existing gaming businesses, investments in owned intellectual property and the development of AI-driven gaming capabilities.
The company said capital allocation will continue to be governed by its existing investment committee and board oversight framework.
Founder and Managing Director Nitish Mittersain described the investment as a strong endorsement of Nazara's long-term strategy and growth ambitions. He said the willingness of the Bluetile and BestPlay leadership team to commit substantial personal capital reflects confidence in the company's future.
Stauffer said he was reinvesting a significant portion of the proceeds from the Bluetile and BestPlay transaction into Nazara, citing the company's platform, financial position and global growth potential.
He added that Nazara is well placed to pursue expansion opportunities while improving operational efficiencies, and said the investment underscores his conviction in the company's next phase of growth.
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