12 June 2025
Nitish Mittersain-led Nazara Technologies completed the acquisition of gaming and entertainment company Smaaash Entertainment Pvt. Ltd. for ₹126 crore, turning it into a wholly owned subsidiary, the company said in an announcement on Friday (June 6).
According to the announcement, the deal was part of a court-approved resolution plan under the Insolvency and Bankruptcy Code and signals Nazara’s expansion into the location-based entertainment space.
The acquisition includes a ₹10 crore equity infusion through the subscription of 1 crore shares at ₹10 each and an unsecured inter-corporate loan of ₹116 crore extended to Smaaash for settling creditor dues. The National Company Law Tribunal (NCLT), Mumbai Bench, approved the resolution plan in May 2025.
The company also retains an option to convert the ₹116 crore loan into equity under specific terms, providing flexibility in future structuring.
Nitish Mittersain-led Nazara Technologies completed the acquisition of gaming and entertainment company Smaaash Entertainment Pvt. Ltd. for ₹126 crore, turning it into a wholly owned subsidiary, the company said in an announcement on Friday (June 6).
According to the announcement, the deal was part of a court-approved resolution plan under the Insolvency and Bankruptcy Code and signals Nazara’s expansion into the location-based entertainment space.
The acquisition includes a ₹10 crore equity infusion through the subscription of 1 crore shares at ₹10 each and an unsecured inter-corporate loan of ₹116 crore extended to Smaaash for settling creditor dues. The National Company Law Tribunal (NCLT), Mumbai Bench, approved the resolution plan in May 2025.
The company also retains an option to convert the ₹116 crore loan into equity under specific terms, providing flexibility in future structuring.
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