Nazara Technologies COO Sudhir Kamath resigns

Nazara Technologies Limited said the company's Chief Operating Officer (COO), Sudhir Kamath, will officially step down from his position on April 1, 2025.

The company disclosed Kamath’s departure in a regulatory filing with BSE Limited and the National Stock Exchange of India Limited (NSE). According to the statement, Kamath is leaving the company to relocate to his hometown and dedicate more time to his family.

In his resignation letter addressed to Managing Director Nitish Mittersain, Kamath expressed his appreciation for his time at Nazara, acknowledging the support of the leadership team and subsidiaries.

This development follows Nazara Technologies’ decision to consolidate its real-money gaming (RMG) operations under its associate firm, Moonshine Technology, the parent company of online poker platform PokerBaazi.

On March 7, India’s only publicly listed gaming company announced that it would transfer its 94.85% stake in OpenPlay Technologies through a share swap transaction worth Rs 104.33 crore.

As a result, OpenPlay will now function as a subsidiary of Moonshine, in which Nazara currently holds a 46.07% stake. Moonshine has stated that it plans to integrate OpenPlay’s rummy platform into its existing offerings to strengthen its presence in the segment.

In addition to its RMG consolidation, Nazara has been streamlining its broader business portfolio. Over the past year, the company has acquired full ownership of two of its subsidiaries: Paper Boat Apps, the developer behind the gamified learning app Kiddopia, and Nextwave Multimedia, a mobile gaming studio.

These acquisitions align with Nazara’s revised operating model introduced last year, which aims to bring key gaming businesses under the parent entity. The strategy is expected to boost revenue and improve free cash flow, allowing for further investments in both organic expansion and acquisitions.

Kamath joined Nazara Technologies as COO in October 2022, during a period of leadership transition at the company. His appointment coincided with the return of Nitish Mittersain as CEO, following the resignation of Manish Agarwal, who had led the company for nearly seven and a half years.

Before joining Nazara, Kamath co-founded Sparskills Technologies, the company behind the online poker platform 9stacks. His career also includes roles at McKinsey, Sun Group Private Equity, and Suntera Energy, spanning over two decades of experience in strategy consulting, private equity, and operations. Throughout his career, he has been involved in strategy development, asset acquisitions and exits, and regulatory affairs.