Nazara Technologies Limited informs the Exchange about Preferential issue
NAZARA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Nazara Technologies' board has approved issuing up to 1,92,31,000 convertible warrants at INR 260 each, aggregating up to INR 500.006 crores on a preferential basis to 5 identified investors. The warrants can be converted into equity shares (face value INR 2) within 18 months at a premium of INR 258 per share. The largest allottee is existing shareholder Riambel Capital PCC-RCC1 getting 94.85 lakh warrants (about 49% of the issue), taking its holding from 1.72% to 4.06% post-conversion. Other investors include S Gupta Family Investments (40 lakh), Plutus Investments (38.46 lakh), Classic Enterprises (10 lakh), and Founders Collective Fund (9 lakh). Separately, the board approved an unsecured loan of up to INR 4 crores to its wholly-owned subsidiary Smaaash Entertainment. An EGM is scheduled on April 30, 2026, to seek shareholder approval for the warrant issue.
This is a large equity dilution event — once all warrants convert, total promoter/investor holdings will rise from 1.72% to 6.57%, which will dilute existing shareholders. Existing shareholder Riambel Capital deepening its stake may be read as a confidence signal, but the stock could see short-term pressure on confirmation of the preferential pricing versus market price.