Key Highlights
- Nazara Technologies’ wholly-owned subsidiary to invest USD 500,000 in nCore Games.
- Investment value is approximately ₹4.76 crore through a Convertible Promissory Note.
- nCore is the developer of the FAU-G gaming franchise and esports ecosystem.
- The transaction is expected to be completed within 90 days.
- Nazara aims to strengthen its India-focused gaming and esports IP portfolio.
Nazara Technologies Limited has announced that its wholly-owned subsidiary, Nazara Technologies FZ LLC, has entered into a Convertible Promissory Note agreement with nCore Games, Inc., the developer behind the FAU-G gaming franchise. The investment will amount to USD 500,000, equivalent to approximately ₹4.76 crore, and will be made in one or more tranches.
The investment remains subject to customary conditions, statutory approvals, and other regulatory requirements.
Investment to Support India-Centric Gaming and Esports Growth
According to the company, the investment is intended to strengthen its presence in India-focused gaming intellectual properties and esports initiatives. The transaction is expected to enhance Nazara’s exposure to the FAU-G franchise, which includes the recently launched FAU-G: Domination title and the associated FAU-G Bharat League esports platform.
Nazara stated that the structured investment offers opportunities for revenue participation while also providing downside protection through favorable conversion and valuation terms. The company also noted that FAU-G: Domination is already being published under Nazara Publishing.
Details of the Transaction
The investment will be made through a Convertible Promissory Note, which can be converted into preferred or common stock of nCore Games at a future date, subject to the terms and conditions outlined in the agreement. The consideration for the transaction will be entirely in cash.
The company clarified that the investment does not qualify as a related-party transaction and that neither its promoters nor promoter group entities have any interest in nCore Games.
The transaction is expected to be completed within 90 days.
About nCore Games
Founded in 2018, nCore Games operates as a mobile gaming studio and publisher focused on India-first multiplayer and IP-driven gaming experiences. Its portfolio includes the FAU-G franchise, particularly FAU-G: Domination, along with the FAU-G Bharat League, which combines competitive esports with player development and upskilling initiatives.
The company generates revenue through game publishing, live operations, in-game purchases, sponsorships, event rights, and other monetization channels. According to the disclosed details, nCore reported revenue of approximately USD 0.06 million during FY26. Historical turnover figures are not available as its flagship title was launched earlier in the fiscal year.
Strategic Focus on Gaming and Esports
The latest investment reflects Nazara Technologies’ continued focus on expanding its gaming and esports ecosystem. By increasing its exposure to the FAU-G franchise and related esports initiatives, the company aims to strengthen its position in India’s rapidly growing interactive entertainment market.