Axana Estates LLP has announced its plans to increase its stake in Nazara Technologies by 5.4 per cent, investing ₹495 crore. This move will trigger an open offer for an additional 26 per cent stake in the gaming company, as stated in a recent press release.
The designated partners of Axana Estates, Arpit Khandelwal and Mithun Sacheti, are existing investors in Nazara Technologies. They will be injecting the funds through a preferential issue at a price of ₹990 per share. Arpit Khandelwal is the founder & managing partner of Plutus Wealth Management LLP, while Mithun Sacheti is a tech entrepreneur and founder of Caratlane.
Plutus Wealth and Axana Estates have jointly launched a public open offer to acquire an additional 26% stake in Nazara. According to the open offer announcement, they will purchase up to 2.4 crore shares of Nazara at ₹990 per share.
Upon completion of the transaction and assuming full acceptance of the open offer, the total shareholding of the acquirers, along with the existing promoters Vikash & Nitish Mittersain and the promoter group, is expected to reach 61.5 per cent.
The news article was originally published on January 21, 2025.
