Nazara Technologies Limited, a leading gaming and sports media company, has raised INR 495 crore (approximately USD 60 million) from Axana Estates LLP. Axana Estates is led by Arpit Khandelwal, Founder and Managing Partner of Plutus Wealth Management LLP, and Mithun Sacheti, Founder of CaratLane.
Strategic Investment Details
The investment will result in Axana Estates acquiring a 5.4% stake in Nazara Technologies, subject to regulatory and shareholder approvals. Additionally, Plutus Wealth Management LLP, Axana Estates LLP, and associated Persons Acting in Concert (PACs) have launched a public open offer to acquire an additional 26% stake in the company. If the offer is fully subscribed, the combined shareholding of the acquirers, PACs, and existing promoters—Vikash and Nitish Mittersain—along with the promoter group, is expected to reach approximately 61.5%.
Leadership Perspectives
Commenting on the development, Nitish Mittersain, Joint Managing Director and CEO of Nazara Technologies, stated, "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, added, "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, and team in their journey to becoming a world-leading gaming and entertainment brand."
Acquisition of Gaming IPs
In a parallel development, Nazara Technologies is expanding its mobile gaming portfolio by acquiring the intellectual property rights of two popular mobile gaming titles—'CATS: Crash Arena' and 'King of Thieves'—from ZeptoLab UK. The deal, valued at USD 7.7 million (approximately INR 67 crore), will see these games published under the "Nazara Publishing" brand, further strengthening the company's position in the global mobile gaming market.
Our Opinion on the News
This strategic investment and acquisition underscore Nazara Technologies' aggressive growth trajectory. The infusion of capital from Axana Estates LLP will provide the necessary financial backing to scale operations and explore new market opportunities. The acquisition of ZeptoLab's gaming IPs reinforces Nazara's strategy of enhancing its gaming portfolio with globally recognized titles.