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Nazara Technologies Raises ₹495 Crore From Existing Investors

Arpit Khandelwal, Founder and Managing Partner of Plutus Wealth Management LLP, and Mithun Sacheti, tech entrepreneur and Founder of Caratlane, have announced a strategic partnership with Nazara Technologies Limited and its promoters, Vikash and Nitish Mittersain.

The transaction involves a significant investment of ₹495 Crore by Axana Estates LLP. The stake increase triggers a mandatory open offer and reinforces the collective vision of accelerating Nazara’s path to becoming a global leader in gaming and digital entertainment.

Key Details of the Transaction:

1. Preferential Issue: Axana Estates LLP, whose designated partners include Arpit Khandelwal and Mithun Sacheti, will invest ₹495 crore in the Company to acquire ~ a 5.40% stake through a preferential issue of equity shares at a price of ₹990 per share. The company’s board has approved this transaction, which is subject to shareholder and regulatory approvals. The issued shares will comply with the SEBI (ICDR) Regulations, 2018, including lock-in requirements.

2. Open Offer: Plutus Wealth Management LLP and Axana Estates LLP, along with PACs, will launch a public open offer to acquire an additional 26% stake in Nazara, as per SEBI (SAST) Regulations, 2011. This is subject to regulatory approvals and completion of the open offer process.

3. Post-Transaction Shareholding: Assuming the open offer is fully accepted, the total shareholding of the Acquirers and PACs, along with the existing promoters (Vikash and Nitish Mittersain) and promoter group, is expected to be ~61.5% of the Company.

Strategic Benefits and Leadership Continuity

This partnership brings together complementary expertise and resources, creating a powerful alliance that will enable NazaraTechnologies to access new markets, leverage cutting-edge technologies, and enhance operational efficiencies.

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Nazara Technologies will continue to operate independently under the leadership of Vikash Mittersain, its chairman and managing director, and Nitish Mittersain, its Joint Managing Director and CEO. The investment will accelerate organic growth, strategic acquisitions, and expansion into new markets.

Nitish Mittersain, Jt. Managing Director and CEO of Nazara Technologies said, “Nazara is set for global growth, and we are excited to partner with Arpit and 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 & team in the journey of becoming a world-leading gaming and entertainment brand.”

Mithun Sacheti, Designated Partner of Axana Estates LLP and founder of Caratlane, said: “Gaming is the new consumer play, blending entertainment, technology, and community to create unmatched engagement. It has become a powerful platform for connecting with audiences and shaping consumer behaviour in real time. We are thrilled to partner with Nazara to unlock its immense potential and drive global growth, and we look forward to unlocking the Company’s full potential in collaboration with its exceptional management team.”

In addition to this strategic partnership, Nazara is bolstering its mobile gaming portfolio by acquiring two popular game IPs from ZeptoLab.

The Nazara board today approved the acquisition of the intellectual property rights of two popular mobile gaming titles, ‘CATS: Crash Arena’ and ‘King of Thieves’ from Barcelona-based game developer and publisher ZeptoLab for a total consideration of USD 7.7 million (~INR 67 cr). Through this acquisition, Nazara will own the game IPs and publish them under the “Nazara Publishing” banner, further strengthening its position in the global mobile gaming market.

About Nazara Technologies:

Nazara is India’s only listed gaming and Esports Company. It owns a majority stake in several leading gaming and esports brands with a presence in India, the US, and other global markets. In esports, Nazara owns India’s leading esports platform, NODWIN Gaming, and Sportskeeda/Pro Football Network, which is in the sports media space.

Nazara’s offerings in the interactive gaming segment include gamified early learning ecosystems like Kiddopia and Animal Jam, interactive story games within Fusebox Games, India’s most popular cricket simulation franchise, World Cricket Championship (WCC), and a broad portfolio of casual games distributed through telco partnerships in many emerging markets. Additionally, Nazara controls Datawrkz, a digital ad tech company supporting its portfolio companies and external clients with demand-side user acquisition and supply-side ad monetization services.

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