Date: May 29, 2026

Investment / Strategic Actions

Nazara Technologies FZ LLC (Nazara FZ LLC), a wholly-owned subsidiary of Nazara Technologies Limited, has executed a Convertible Promissory Note with nCore Games, Inc., a Delaware corporation, on May 29, 2026.

Investment Details:

  • Investment Amount: USD 500,000 (United States Dollar Five Hundred Thousand), equivalent to approximately ₹4.76 Crores
  • Investment Structure: The amount will be invested in one or more tranches via a Convertible Promissory Note
  • Conversion Terms: The Note will be convertible into preferred/common stock of nCore at a future date as per its terms and conditions
  • Completion Timeline: Investment to be completed within 90 days
  • Consideration: Cash consideration
  • Regulatory Approvals: No governmental or regulatory approvals required

Target Company Details:

  • Name: nCore Games, Inc.
  • Incorporation: 2018
  • Business: Mobile games studio and publisher focused on India-first, multiplayer and IP-driven gaming experiences
  • Key Products: FAU-G franchise (including FAU-G: Domination) and FAU-G Bharat League (competitive esports and upskilling platform)
  • Business Operations: Game development, publishing, live-ops monetization including in-game passes, bundles, sponsorships, and event rights
  • Country of Operation: USA
  • Financials: FAU-G: Domination was launched in early FY26, so historical turnover details are not available. Total revenue for FY26 was USD 0.06 Million.

Strategic Rationale:

The investment enables Nazara to strengthen its India-centric gaming and esports IP portfolio through the FAU-G franchise, supported by scalable live-ops and a national esports league. Regulatory clarity under PROGA 2025 enhances growth visibility, while the structured investment provides immediate revenue participation and downside protection through favorable conversion and valuation terms. FAU-G: Domination is already published by Nazara Publishing.

Related Party Status:

The investment does not fall within the purview of related party transactions. The promoter/promoter group/group companies of Nazara Technologies Limited do not have any interest in nCore Games, Inc.