Nazara To Raise INR 495 Cr Via Another Preferential Issue

Nazara To Raise INR 495 Cr Via Another Preferential Issue

SUMMARY

Following this investment, Axana Estates will hold a 5.4% stake in Nazara Technologies

Khandelwal is already a shareholder in Nazara, owning an 8.1% stake as of December 2024. He owns another 11.82% stake in the company through Plutus Wealth Management LLP

In addition to this, Nazara also said that its board has approved acquisition of two popular game IPs from ZeptoLab to double down on its mobile gaming portfolio

Listed gaming major Nazara Technologies’ board has approved the proposal to raise INR 495 Cr from Axana Estates LLP through a preferential allotment of shares.

Following this investment, Axana Estates will hold a 5.4% stake in Nazara Technologies. 

In an exchange filing today (January 20), the company said, “Axana Estates LLP, whose designated partners include Arpit Khandelwal and Mithun Sacheti, will infuse INR 495 Cr into the company to acquire ~5.40% stake through a preferential issue of equity shares at a price of INR 990 per share.”

Khandelwal is the founder and managing partner of Plutus Wealth Management LLP and Sacheti is the founder of CaratLane. 

Khandelwal is already a shareholder in Nazara, owning an 8.1% stake as of December 2024. He owns another 11.82% stake in the company through Plutus Wealth Management LLP. 

The partnership aims to accelerate Nazara’s growth and reinforce its vision of becoming a global leader in the gaming and digital entertainment sectors.

The preferential issue has also triggered an open offer in which Plutus Wealth Management LLP and Axana Estates LLP, along with Junomoneta Finsol Private Limited  PACs), will acquire an additional 26% stake in Nazara from its stakeholders. 

Post the open offer, the combined shareholding of Axana Estates, Plutus, Junomoneta, and the existing promoters (Vikash and Nitish Mittersain) is expected to reach approximately 61.5% of Nazara Technologies.

Commenting on the development, Nazara CEO Nitish Mittersain said, “Nazara is set for global growth, and we are excited to partner with Arpit & Mithun, who share our vision. Their belief in our potential and expertise will help us scale new heights, positioning Nazara as a unique global gaming company from India.” 

In addition to this, Nazara also said that its board has approved acquisition of two popular game IPs from ZeptoLab to double down on its mobile gaming portfolio. The company would acquire the IP rights of two popular mobile gaming titles – ‘CATS: Crash Arena’ and ‘King of Thieves’ – for a total consideration of $7.7 Mn (about INR 67 Cr). 

You have reached your limit of free stories
Become A Startup Insider With Inc42 Plus

Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in india's startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Nazara To Raise INR 495 Cr Via Another Preferential Issue-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Nazara To Raise INR 495 Cr Via Another Preferential Issue-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Nazara To Raise INR 495 Cr Via Another Preferential Issue-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Nazara To Raise INR 495 Cr Via Another Preferential Issue-Inc42 Media
Nazara To Raise INR 495 Cr Via Another Preferential Issue-Inc42 Media
You’re in Good company