Nazara raises Rs 495 Cr from Arpit Khandelwal and Mithun Sacheti-led Axana Estates

Nazara Technologies Limited has raised Rs 495 crore (nearly $60 million), led by Axana Estates LLP, whose designated partners include Arpit Khandelwal, founder and managing partner of Plutus Wealth Management LLP, and Mithun Sacheti, founder of Caratlane.

This strategic partnership aims to propel Nazara toward global gaming leadership by leveraging the collective expertise and resources of its new investors alongside its existing promoters, Vikash and Nitish Mittersain.

Post-investment, Axana Estates will acquire approximately a 5.40% stake in Nazara, subject to shareholder and regulatory approvals.

Moreover, Plutus Wealth Management LLP and Axana Estates LLP, in collaboration with Persons Acting in Concert (PACs), have announced plans to launch a public open offer to acquire an additional 26% stake in Nazara Technologies Limited.

The new investment will support the company's growth through strategic acquisitions and market expansion. The transaction also strengthens Nazara's mobile gaming portfolio with the acquisition of two popular mobile game IPs, 'CATS: Crash Arena' and 'King of Thieves,' from ZeptoLab for $7.7 million (Rs 67 crore).

This move bolsters Nazara's position in the global mobile gaming market, with the titles to be published under the "Nazara Publishing" banner.

This development comes a couple of months after Nazara’s Rs 855 crore (approximately $100 million) fundraise through a preferential issue. Sancheti had invested Rs 75 crore in the round.

In the September quarter (Q2 FY25), Nazara Technologies reported a 7.3% year-on-year increase in revenue to Rs 318.94 crore, while its profit grew by 10.85% to Rs 21.97 crore.