Board Meeting12 Oct 2026, 06:20 pm
Nazara Tech: Board Approves Director & CFO Changes, Preferential Allotment
AI Summary
Nazara Technologies Limited's Board of Directors met on October 12, 2026, approving several key management changes. Mr. Mithun Padam Sacheti was re-designated from Non-Executive to Whole-time Director. Mr. Rohit Sharma resigned as Whole-time Director, effective January 11, 2027. Mr. Nitish Mittersain transitioned from Managing Director to Founder and Non-Executive Director. The Board also accepted the resignation of CFO Mr. Rakesh Shah, effective October 15, 2026, and appointed Mr. Arun Agrawal as the new CFO from October 16, 2026. Additionally, the company approved the preferential allotment of 2,38,81,711 equity shares at ₹306 per share.
Key Highlights
- Board approved re-designation of Mithun Padam Sacheti to Whole-time Director.
- Rohit Sharma resigned as Whole-time Director; Nitish Mittersain becomes Founder & Non-Executive Director.
- CFO Rakesh Shah resigned; Arun Agrawal appointed as new CFO.
- Approved preferential allotment of 2,38,81,711 equity shares.
- Allotment price set at ₹306 per share via private placement.
Price Impact
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