Board of Nazara approves conversion of loan to subsidiaries

At meeting held on 12 October 2026

The board of Nazara Technologies at its meeting held on 12 October 2026 has approved the conversion of the outstanding inter-corporate loan aggregating upto Rs 129.35 crore into equity share capital of Smaaash Entertainment (Smaaash), a wholly-owned subsidiary of the Company.

The proposed conversion is being undertaken with the objective of strengthening the capital base and net worth of Smaaash, improving its debt-equity profile, supporting its future growth plans and aligning its capital structure with its long-term business requirements.

The Board has approved the conversion of the outstanding loan aggregating up to GBP 23.00 Million (i.e. Rs 294.40 crore) advanced by the Company to Nazara Technologies UK (Nazara UK), a wholly-owned subsidiary of the Company, into equity share capital of Nazara UK.

The proposed conversion is intended to strengthen the capital base and net worth position of Nazara UK, improve its financial position and support its long-term growth and business requirements.

Post conversion, Smaaash and Nazara UK shall continue to remain wholly-owned subsidiaries of the Company and there shall be no change in the ownership or control of these subsidiaries.