Nazara Technologies Director reshuffle: Mithun Sacheti becomes Executive Director as Founder Nitin Mittersain steps down as MD

The Board authorized the conversion of the impressive inter-corporate loan aggregating upto around 129.35 crore into equity share capital of Smaaash Entertainment Picture Credit: Rawpixel

Nazara Techologies on Monday revealed a rejig in its Director and management blend with Founder Nitin Mittersain stepping down from his function as Managing Director.

Mittersain will serve as the Non-Executive Director efficient October 12. As Founder and Non-Executive Director, Mittersain will continue to supply tactical assistance and utilize his market experience, relationships and institutional understanding to support the Company’s long-lasting development and worldwide aspirations. The business has actually not divulged who will be taking over as Managing Director. Previously, Raymond Albaladejo Stauffer took control of as the Chief Executive Officer of Nazara.

The Board likewise redesignated Mithun Sacheti as the Whole-time Director and Key Managerial Personnel and designated as Executive Director of the business. Sacheti will supervise tactical efforts and such functional obligations once the present Whole-time Director Rohit Sharma steps down on January 2027 to pursue entrepreneurial chances. Even More, Chief Financial Officer Rakesh Shah will step down on October 15, 2026. The function will be taken control of by Arun Agrawal, a Chartered Accountant, who brings over twenty years of abundant experience in financing and organization method throughout worldwide companies.

Beyond the supervisory shuffle, the Board authorized the infusion of funds aggregating as much as $77 million or around 742.72 crore into Nazara’s UK arm to assist in financing of the 2nd tranche of purchase factor to consider to Bluetile Games and Bestplay Systems.

The Board authorized the conversion of the impressive inter-corporate loan aggregating upto around 129.35 crore into equity share capital of Smaaash Entertainment.

“The proposed conversion is being carried out with the goal of enhancing the capital base and net worth of Smaaash, enhancing its debt-equity profile, supporting its future development strategies and aligning its capital structure with its long-lasting organization requirements,” stated the business in an exchange filing.

Released on October 12, 2026