Nazara Technologies acquires Smaaash for ₹126 Crores

​​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.