Nazara Secures ₹495 Crore Investment from Axana Estates, Led by Arpit Khandelwal and Mithun Sacheti

Nazara Technologies Limited Secures Significant Investment

Nazara Technologies Limited has successfully raised Rs 495 crore (approximately $60 million), with the investment led by Axana Estates LLP. This firm includes key partners such as Arpit Khandelwal, the founder and managing partner of Plutus Wealth Management LLP, along with Mithun Sacheti, who founded Caratlane.

Strategic Partnership Objectives

The primary objective of this strategic partnership is to advance Nazara’s position as a global leader in the gaming industry. This will be achieved by combining the expertise and resources of the new investors with those of the existing promoters, Vikash and Nitish Mittersain. Following this investment, Axana Estates will acquire an estimated 5.40% stake in Nazara, pending regulatory and shareholder approvals.

Public Open Offer Plans

In addition, Plutus Wealth Management LLP and Axana Estates LLP, working alongside Persons Acting in Concert (PACs), have declared their intention to initiate a public open offer aimed at acquiring an additional 26% stake in Nazara Technologies Limited.

Investment Utilisation

This new capital infusion will be crucial in supporting the company’s growth trajectory, focusing on strategic acquisitions and market expansion. The investment also enhances Nazara’s mobile gaming portfolio through the acquisition of two well-known mobile game intellectual properties (IPs), namely:

• CATS: Crash Arena
• King of Thieves

These titles were purchased from ZeptoLab for $7.7 million (Rs 67 crore) and will be published under the “Nazara Publishing” brand, further solidifying Nazara’s standing in the global mobile gaming arena.

Recent Financial Performance

This development follows Nazara’s recent fundraise of Rs 855 crore (approximately $100 million) through a preferential issue, with Sancheti contributing Rs 75 crore to that round. In the September quarter (Q2 FY25), Nazara Technologies reported a 7.3% year-on-year increase in revenue, reaching Rs 318.94 crore, while its profit saw a rise of 10.85% to Rs 21.97 crore.