Nazara approves ₹733.5 crore preferential issue as new CEO set to take 4.67% stake
Nazara Technologies will issue 2.40 crore shares at ₹306 each to six investors, subject to shareholder and regulatory approvals. Incoming CEO Raymond Albaladejo Stauffer will receive a 4.67% post-allotment stake ahead of his September 1 transition, following a weak June quarter.
Indian gaming company Nazara approved a Rs 733.5 crore preferential share issue to six investors, with incoming CEO Raymond Albaladejo Stauffer receiving a 4.67% stake. The move follows weak June-quarter results, including a 14% revenue decline and Rs 82 crore loss.
Why this matters
The funding and CEO equity grant follow Nazara's reported ₹82.5 crore Q1 loss and founder Nitish Mittersain's planned CEO exit; related updates also named Stauffer as successor.
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