Nazara Board Approves Q1 Results, New CEO, Investments & Acquisitions
Nazara Technologies' board approved Q1 FY27 unaudited financial results. The board also approved revised terms for the Bluetile Games and Bestplay Systems acquisition, removing stock consideration. Further investment of up to ₹9.9 Crores in subsidiary Funky Monkeys Play Center was approved, increasing Nazara's stake to approximately 68.1%. An unsecured loan of up to ₹24 Crores was granted to wholly-owned subsidiary Smaaash Entertainment. In management changes, Mr. Raymond Albaladejo Stauffer was appointed as the new CEO, effective September 1, 2026, with Mr. Nitish Mittersain stepping down as CEO but continuing as Managing Director. Mr. Con Anthony Conlon was appointed as an Independent Director, and Mr. Arun Vijaykumar Gupta resigned as an Independent Director.
Key Highlights
- Board approved Q1 FY27 unaudited financial results.
- Raymond Stauffer appointed CEO; Nitish Mittersain continues as MD.
- Con Anthony Conlon appointed Independent Director; Arun Gupta resigned.
- Revised acquisition terms for Bluetile/Bestplay approved, no stock consideration.
- Approved investments in Funky Monkeys (₹9.9 Cr) and loan to Smaaash (₹24 Cr).
Price Impact
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