Nazara raises ₹733.5 cr through preferential issue to fund acquisitions

Incoming CEO Raymond Stauffer will invest about ₹583 crore as Nazara strengthens its balance sheet to fund acquisitions, AI-led game development and business expansion

Gaming firm Nazara Technologies on Thursday announced that it would raise around ₹733.5 crore through a preferential issue of equity shares. About ₹583 crore of the investment is being made by Raymond Stauffer, the incoming chief executive officer (CEO) of the company.

 

Post the allotment, Stauffer will hold a 4.67 per cent stake in the company. The shares are proposed to be issued at ₹306 apiece, a discount to Thursday's closing price of ₹352.50.

 

The preferential issue will be entirely subscribed by the founders and senior leadership team of Bluetile Games and BestPlay Systems, which Nazara acquired earlier this year.

 

 

Apart from Stauffer, the other investors are Schutze Marc Sylvester (₹86.67 crore), Maxime Loppin (₹30.71 crore), Alexandre Paul Jean Noirot-Cosson (₹21.75 crore), Alexander Osou (₹8.17 crore) and Hugo Rémy Gaston Blavin (₹2.72 crore).

 

The proceeds from the preferential issue will strengthen Nazara's balance sheet and will primarily be deployed towards strategic acquisitions, growth initiatives across existing gaming businesses, investment in owned intellectual property, AI-enabled game development and operating capabilities, and other opportunities aligned with Nazara's global gaming strategy.

 

Nitish Mittersain, founder, chief executive officer and managing director, Nazara Technologies, said, "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. As founder, it is deeply heartening to see Nazara recognised and respected across the global gaming industry."

 

Capital deployment will remain subject to the company's established Investment Committee and Board oversight framework. The company said the proceeds are intended primarily to support strategic acquisitions and accelerate growth across Nazara's existing business verticals.

 

Raymond Albaladejo Stauffer, chief executive officer, Bluetile, said, "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. This reinvestment reflects my full conviction and confidence in the future of Nazara we are building together."