Nazara Technologies Expands Stake and Acquires Game IPs in Strategic Move

Gaming giant Nazara Technologies has raised Rs 495 crore by issuing shares to investors Arpit Khandelwal and Mithun Sacheti's entity, Axana Estates LLP. This acquisition brings their stake to 5.4% and triggers a public open offer for 26% additional shares. Nazara strengthens its gaming portfolio by acquiring IPs from ZeptoLab.

Nazara Technologies, a leading name in gaming and esports, has secured Rs 495 crore from Axana Estates LLP, led by investors Arpit Khandelwal and Mithun Sacheti. This strategic investment of a 5.4% stake through a preferential issue at Rs 990 per share aligns with plans for a global leadership in gaming and digital entertainment.

The transaction, pending shareholder and regulatory approvals, will initiate a mandatory open offer for an additional 26% equity. If fully accepted, this will elevate the collective shareholding to approximately 61.5% involving current promoters Vikash and Nitish Mittersain, highlighting the strategic synergy aimed at accelerating Nazara's growth trajectory.

Adding momentum, Nazara has broadened its mobile gaming portfolio by acquiring Intellectual Property Rights of 'CATS: Crash Arena' and 'King of Thieves' from ZeptoLab for USD 7.7 million. These acquisitions under the 'Nazara Publishing' banner signify a reinforced position in the global mobile gaming market.

(With inputs from agencies.)