<ul><li>Mumbai-based Nazara Technologies acquires Smaaash Entertainment Pvt. Ltd. for ₹126 crore, with the acquisition completed under the Insolvency and Bankruptcy Code (IBC).</li><li>Nazara infused ₹10 crore in equity and extended an unsecured inter-corporate loan of ₹116 crore to settle creditor dues as part of the acquisition deal approved by the NCLT.</li><li>The transaction gives Nazara complete ownership of Smaaash's location-based entertainment assets and an option to convert the loan into equity in the future, aligning with Nazara's aim to enhance its gaming ecosystem.</li><li>Smaaash, known for blending virtual reality and interactive sports, faced financial stress and entered insolvency proceedings in 2022 due to pandemic disruptions and a debt burden, with creditors' claims totaling ₹426.3 crore.</li></ul>

Nazara Technologies Acquires Sachin Tendulkar-Backed Smaaash for ₹126 Crore

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