Mumbai: Nazara Technologies Limited has announced a significant milestone with an investment of ₹495 crores by Axana Estates LLP, led by Arpit Khandelwal, Founder & Managing Partner of Plutus Wealth Management LLP, and Mithun Sacheti, tech entrepreneur and Founder of Caratlane. This strategic partnership, aimed at bolstering Nazara’s position as a global leader, has also triggered a mandatory open offer under SEBI regulations.
Key Transaction Highlights
- Preferential Issue: Axana Estates LLP will invest ₹495 crores to acquire a 5.40% stake in Nazara through a preferential issue of equity shares priced at ₹990 per share. This transaction, approved by the board, awaits shareholder and regulatory clearance, with shares subject to SEBI’s lock-in regulations.
- Open Offer: Axana Estates LLP, Plutus Wealth Management LLP, and PACs will launch an open offer to acquire an additional 26% stake in Nazara, per SEBI’s regulations.
- Post-Transaction Structure: Assuming full acceptance of the open offer, the combined shareholding of the acquirers, PACs, and existing promoters (Vikash & Nitish Mittersain) is projected to reach 61.5%.
Nazara will continue its independent operations under the leadership of Chairman & Managing Director Vikash Mittersain and Joint Managing Director & CEO Nitish Mittersain. The investment will fuel organic growth, strategic acquisitions, and global market expansion.
Nitish Mittersain, Jt. Managing Director & CEO of Nazara Technologies, expressed, “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.”
Arpit Khandelwal, Founder & Managing Partner of Plutus Wealth Management LLP, stated:
“We are excited to deepen our investment in Nazara, a company with a proven track record of capitalizing on global gaming trends. This consolidation of ownership will provide growth capital and bring strategic expertise to support Nazara, its promoters & team in the journey of becoming a world-leading gaming and entertainment brand.”
Mithun Sacheti, Designated Partner of Axana Estates LLP, added, “Gaming is the new consumer play, blending entertainment, technology, and community to create unmatched engagement. We are thrilled to partner with Nazara to unlock its immense potential and drive global growth and look forward to unlocking the Company’s full potential in collaboration with its exceptional management team.”
Nazara also announced the acquisition of two popular mobile game IPs, CATS: Crash Arena and King of Thieves, from Barcelona-based ZeptoLab for $7.7 million (approximately ₹67 crores). These titles will now be published under the “Nazara Publishing” banner, further enhancing its global mobile gaming footprint.
This dual-focused approach of strategic partnerships and portfolio expansion underscores Nazara’s ambition to dominate the global gaming and digital entertainment industry.
