Nazara Tech raises ₹495 crore from existing investors, triggers open offer
Axana Estates LLP will be taking an additional 5.4 per cent stake in Nazara Technologies for ₹495 crore, triggering an open offer for a further 26 per cent stake, the company said in a statement.
Axana Estates’ designated partners include Arpit Khandelwal and Mithun Sacheti, who are exiting investors in the gaming company. They are infusing the funds through a preferential issue at a price of ₹990 per share.
Arpit Khandelwal is the founder & managing partner of Plutus Wealth Management LLP and Mithun Sacheti, tech entrepreneur and founder of Caratlane.
Plutus Wealth and Axana Estates have launched a public open offer to acquire an additional 26% stake in Nazara. According to open offer announcement, the acquirers will buy up to 2.4 crore shares of Nazara at ₹990 per share.
Post transaction and assuming full acceptance of the open offer, the total shareholding of the acquirers, along with the existing promoters Vikash & Nitish Mittersain and the promoter group, is expected to be 61.5 per cent.
