Nazara gets NCLT approval to withdraw Paper Boat Apps merger

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Gaming company Nazara Technologies has withdrawn the proposed merger of its wholly owned subsidiary, Paper Boat Apps Private Limited, after the National Company Law Tribunal (NCLT) approved the company's request to withdraw the scheme.
In a stock exchange filing on Tuesday, the company said the NCLT has allowed its application to withdraw the Scheme of Amalgamation. Nazara's board had approved the withdrawal of the merger proposal in May 2026 due to changes in the company's restructuring plans.
Nazara first acquired a 50.91% stake in Paper Boat Apps in 2019. In July 2024, it bought the remaining 48.42% stake from promoters Anupam and Anshu Dhanuka for Rs 300 crore, making Paper Boat Apps its wholly owned subsidiary.
Founded by PR Rajendran, R Kalpana, and PR Jayashree, Paper Boat Apps develops and publishes Kiddopia, a subscription-based digital learning app for children aged two to seven years. The app derives a majority of its revenue from the US market.
According to the NCLT order dated June 18, 2026, the tribunal allowed the company's application to withdraw the merger scheme and dismissed the application as withdrawn.
The withdrawal comes after Nazara announced plans to sharpen its focus on core gaming and divest non-core businesses such as esports and adtech.

document fetched 2026-07-08 08:35