Nazara Tech loans ₹28 Cr to wholly-owned subsidiary Smaaash

Nazara Technologies Limited has entered into a Loan Agreement with its wholly-owned subsidiary, Smaaash Entertainment Private Limited, to provide an unsecured loan of up to ₹28.00 Crores. The loan, to be disbursed in one or more tranches, is intended for Smaaash's general business purposes, including working capital, capital expenditure, and acquisition of capital assets. The agreement was executed on September 21, 2026. Nazara, as the lender, retains the discretion to convert all or part of the loan into equity shares of Smaaash. Although a related party transaction, it is exempt from certain Listing Regulations provisions as it's between a holding company and its wholly-owned subsidiary, and is conducted on an arm's length basis. The total outstanding loan from Nazara to Smaaash as of the disclosure date is ₹116.00 Crores.