The board approved the issuance of up to 2.39 crore equity shares at an issue price of ₹306 apiece, aggregating ₹733.5 crore. The company will convene an Extraordinary General Meeting (EGM) on August 30 to seek shareholders’ approval for the fundraise.
As part of the preferential allotment, Raymond Albaladejo Stauffer, who is set to take over as CEO from September 1, 2026, subject to regulatory approvals, will be allotted 1.91 crore shares, translating into a 4.67% stake in the company after the issue.
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The remaining shares will be allotted to five other investors — Marc Sylvester Schutze, Maxime Loppin, Alexandre Paul Jean Noirot-Cosson, Alexander Osou and Hugo Rémy Gaston Blavin. Collectively, the six investors will hold 5.87% of the company post allotment.
In a press release, Nazara said the preferential issue will be subscribed entirely by the founders and senior leadership team of Bluetile Games and BestPlay Systems. Raymond alone will invest approximately ₹583.5 crore, while the remaining five investors will collectively invest about ₹150 crore.
The proceeds from the fundraise will be used to strengthen Nazara’s balance sheet and support strategic acquisitions, growth initiatives across its gaming businesses, investment in owned intellectual property, AI-enabled game development capabilities and other opportunities aligned with its global gaming strategy, the company said.
Founder, CEO and Managing Director Nitish Mittersain said the decision by Raymond and the Bluetile and BestPlay leadership team to invest nearly ₹734 crore of their own capital reflects confidence in Nazara’s strategy and long-term growth opportunity.
Raymond said he was reinvesting a substantial portion of the proceeds from Bluetile and BestPlay into Nazara, citing confidence in the company’s platform, balance sheet and ambition to build a global gaming business.
Separately, the board also approved an increase in the company’s authorised share capital to ₹90 crore from ₹80 crore, subject to shareholder approval, to facilitate the proposed allotment.
Shares of Nazara Tech settled at ₹352.65 on Thursday, up 1.10%. The stock has gained about 26% so this year.
