Nazara Technologies has acquired Sachin Tendulkar–backed Smaaash Entertainment through an NCLT‑approved resolution plan for ₹126 crore, marking the gaming giant’s expansion into location‑based entertainment (LBE)
Deal Structure and Strategic Significance
- The ₹126 crore deal includes a ₹10 crore equity infusion (1 crore shares at ₹10 each), and a ₹116 crore unsecured inter‑corporate loan to settle creditor dues.
- Nazara now owns 100% equity in Smaaash, gaining its bowling alleys, go‑karts, VR zones, food & beverage assets, and 11 Indian locations.
- The acquisition was executed at arm’s length, with the NCLT approving the resolution under the Insolvency and Bankruptcy Code .
Background on Smaaash
Founded in 2012 by Shripal Morakhia, Smaaash became a pioneer in immersive entertainment, offering virtual reality cricket simulators, bowling, go‑karting, and more. Backed by Sachin Tendulkar and Peak XV, the chain faced financial distress during the pandemic and defaulted on over ₹400 crore in debt
As of FY24, its turnover was ₹112.34 crore.
Nazara’s Growth Play
- This move aligns with Nazara’s inorganic growth strategy and extends its gaming ecosystem from digital to physical realms
- Recently, Nazara also acquired UK‑based Curve Games for ₹247 crore, solidifying its presence in console and PC gaming
What This Means for the Industry
- Strategic expansion: Nazara now covers digital, mobile, esports, and location‑based entertainment, aiming for a full-stack gaming offering.
- Enhanced revenue streams: Physical locations diversify earnings beyond app‑based models.
- Brand synergy: Smaaash’s nostalgic value, backed by Tendulkar, complements Nazara’s youthful gaming brands.
What Lies Ahead
Nazara plans to:
- Reimagine Smaaash venues with tech-infused experiences and digital IP integrations.
- Expand operations, exploring new locations and formats beyond the existing 11 centres newsbytesapp.com.
- Engage new partners, including content creators, retailers, and event companies, to build immersive entertainment hubs .
Final Thoughts
With a ₹126 crore bet on a legacy entertainment brand, Nazara’s acquisition of Smaaash marks a bold step into offline gaming and entertainment. This diversification enhances its gaming portfolio and positions the company at the intersection of sports, technology, and social play in India.
