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).