NTNazara Technologies543280Routine SEBI update

Monitoring agency finds no deviation in use of Rs. 495 crore preferential issue proceeds

Nazara Technologies shared ICRA's monitoring agency report for the quarter ended September 30, 2026.

By ScoutQuest · Mon 26 Oct 2026, 7:48 PM IST · 2 min read

Issue Size

INR 495.00 crore (50,00,000 shares at ₹ 990/- each)

Issue Expenses

INR 0.38 crore

Deviation vs Objects of Issue

No deviation

What was shared

Nazara Technologies has submitted to the exchanges ICRA Limited's monitoring agency report for the quarter ended September 30, 2026. A monitoring agency is appointed to keep an independent check on whether money raised from investors is actually spent on the purposes stated at the time of the issue. ICRA describes this as its final monitoring agency report for Q2 FY2027.

• The issue was a preferential issue of 50,00,000 fully paid-up equity shares.
• Face value: ₹ 4/- per share.
• Issue price: ₹ 990/- per share, including a premium of ₹ 986/- per share.
• Issue size and gross proceeds: INR 495.00 crore.
• Issue related expenses incurred up to Q2FY27: INR 0.38 crore.
• ICRA is monitoring proceeds of INR 495.00 crore.

The main finding

The report states "No deviation - the utilization of the issuance proceeds is in line with the objects of the issue." The range of deviation is also shown as "No deviation". In simple terms, the money is being used for the purposes investors were told about when the shares were issued.

Other checks in the report

• Whether utilisation is as per the disclosures in the offer document: Yes, with no deviation observed. ICRA lists the peer reviewed CA certificate, management confirmation, bank statement, offer letter and the notice of the extraordinary general meeting held on February 13, 2025 among the inputs considered.
• Whether a major deviation was seen versus earlier monitoring agency reports: No, no deviation observed.
• Whether the means of finance for the stated objects changed: No.
• Whether favourable events improving the viability of the objects were reported: No.
• Whether unfavourable events affecting the viability of the objects were reported: No.
• Whether any other information could materially affect investor decisions: No.

What the monitoring agency has clarified

ICRA notes that its report is not a comment on the quality of the objects of the issue, the appropriateness or reasonableness of costs, or spending against any object, and is not an assurance on the outcome of such spending. It also states that it does not perform an audit and does not independently verify the information or certificates it receives.

How to read this

A quarterly monitoring agency report is a routine disclosure for companies that have raised money through a preferential issue. The key takeaway here is the clean "no deviation" comment on the use of the INR 495.00 crore proceeds for the quarter. The report tracks use of proceeds against stated objects; it is not a comment on the company's business performance or on the merits of the price at which the shares were issued.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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