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Nazara Technologies has acquired Smaaash Entertainment for ₹126 crore, turning the once high-flying but bankrupt immersive entertainment chain into a wholly owned subsidiary.
Backstory: Smaaash was hit hard by COVID and defaulted on over ₹400 crore in dues.
The deets: the deal, approved by the NCLT under the Insolvency and Bankruptcy Code, includes a ₹10 crore equity infusion and a ₹116 crore inter-corporate loan to settle Smaaash’s creditor dues. Nazara now owns 100% of the company.
Why it matters: this marks Nazara’s entry into location-based entertainment, think VR, go-karting, cricket sims, bowling, and food all under one roof. It’s a strong offline complement to Nazara’s digital gaming play.
Flashback: Smaaash is backed by names like Sachin Tendulkar and Peak XV and once operated 11+ urban centres.
Zoom out: with this acquisition, Nazara is looking beyond screens, building a hybrid gaming ecosystem that spans both physical and digital worlds.
Worth noting: Nazara had earlier picked up a 60% stake in indoor playzone Funky Monkeys, signaling a broader push into offline entertainment.
