Nazara Technologies Limited has announced a strategic investment of ₹14,98,99,176 in Rusk Media Private Limited through a Share Subscription Agreement signed on March 30, 2026. This investment marks a significant step in Nazara's expansion into content creation for the gaming and esports ecosystem, targeting Gen-Z and Millennial audiences.

Investment Structure and Terms

The investment involves subscription to 1,278 Pre Series C Compulsorily Convertible Preference Shares of face value ₹10 each in Rusk Media. This acquisition represents 1.36% of Rusk Media's share capital on a fully diluted basis, bringing Nazara's total holding to 7.62% post-completion of the transaction.

Strategic Partnership Objectives

The collaboration aims to leverage Rusk Media's expertise in creating content for Gen-Z and Millennials to develop a scripted reality esports and gaming universe. Through this partnership, Rusk will create entertainment-driven content specifically designed for gaming fans in India and globally. Nazara and its subsidiaries will secure exclusive monetization rights on the intellectual property created, including the ability to monetize characters and creators through mobile games.

About Rusk Media Private Limited

Rusk Media Private Limited, incorporated on February 13, 2019, operates in the Media & Entertainment sector. The company has demonstrated consistent growth over the past three years, with its registered office located in Mumbai.

The company's turnover has shown impressive growth, increasing from ₹39,49,00,000 in FY 2022-23 to ₹81,38,83,000 in FY 2024-25, representing more than double growth over the three-year period.

Regulatory Compliance and Approvals

The transaction does not fall within the purview of related party transactions, and Nazara's promoter, promoter group, or group companies have no interest in Rusk Media. No governmental or regulatory approvals are required for this acquisition, streamlining the completion process. The investment aligns with Nazara's strategic focus on expanding its gaming and entertainment portfolio while maintaining compliance with all applicable laws and regulations.

Nazara Technologies Limited has completed the acquisition of the remaining equity stake in its subsidiary Next Wave Multimedia Private Limited, making it a wholly owned subsidiary. The transaction was executed in March 2026 as part of a previously announced Share Purchase Agreement.

Acquisition Details

The company acquired 4,188 equity shares of INR 100 each from the founding shareholders, representing 12.56% of Next Wave Multimedia's equity share capital. The transaction details are outlined below:

Shareholding Structure Change

Following the completion of this acquisition, Nazara Technologies' ownership structure in Next Wave Multimedia has been significantly enhanced:

Transaction Background

The acquisition was executed pursuant to the Share Purchase Agreement dated May 24, 2024, including addendum thereto, between Nazara Technologies, Next Wave Multimedia, and the founding shareholders. The selling parties included Mr. P.R Rajendran, Ms. R Kalpana, and Ms. P.R Jayashree, who were the existing promoter-founder shareholders of Next Wave Multimedia.

Regulatory Compliance

Nazara Technologies disclosed this acquisition in compliance with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously made a disclosure regarding this transaction on December 30, 2025, and this represents an update on the completion of the acquisition process.

The transformation of Next Wave Multimedia into a wholly owned subsidiary provides Nazara Technologies with complete operational control and strategic flexibility in managing the entity's business operations and future growth initiatives.