Nazara Technologies Limited has made a regulatory disclosure to BSE Limited and National Stock Exchange of India Limited regarding a loan agreement with its wholly-owned subsidiary.
Key Transaction Details
- Parties: Nazara Technologies Limited (Lender) and Smaaash Entertainment Private Limited (Borrower)
- Transaction Type: Unsecured loan
- Maximum Amount: ₹28.00 Crores (Rupees Twenty Eight Crores)
- Disbursement: To be provided in one or more tranches
- Execution Date: September 21, 2026
- Purpose: For Smaaash's general business purposes, including working capital, capital expenditure, and acquisition of capital assets
Significant Terms
The agreement includes a conversion option where the Lender (Nazara) may, at its discretion and subject to receipt of all requisite approvals, convert all or any part of the loan into equity shares of Smaaash by issuing written notice to the Borrower.
Related Party Considerations
Smaaash is a wholly-owned subsidiary of Nazara Technologies Limited, making it a related party. However, the transaction is exempt from the provisions applicable to related party transactions under Listing Regulations as it is between a holding company and its wholly-owned subsidiary. The disclosure confirms that promoter/promoter group/group companies of Nazara do not have any interest in this transaction, and the transaction is conducted on an arm's length basis.
Existing Loan Exposure
The disclosure reveals that as of the date of this agreement (September 21, 2026), the amount of loan outstanding to Smaaash is ₹116.00 Crores.
Security and Other Details
- Security: No security has been provided for this loan
- Other disclosures: No nominee on the board, potential conflict of interest, or termination/amendment details are applicable