Jan 21, 04:07 AM

Nazara Raises ₹495 Crore at ₹990/Share, Triggers ₹2,382 Crore Open Offer with Junomoneta Finsol

Nazara Technologies, an online gaming firm, is set to raise ₹495 crore through a preferential allotment of shares priced at ₹990 per share. The investment is led by Mithun Sacheti, founder of CaratLane, and Arpit Khandelwal, founder of Plutus Wealth Management, through Axana Estates LLP. This allotment, which grants Axana a 5.4% stake, combined with their existing holdings, brings their total stake to 25.47%, triggering a mandatory open offer under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) regulations. The open offer, involving Axana Estates, Plutus Wealth Management, and Junomoneta Finsol, aims to acquire an additional 26% stake in the company, covering 2.41 crore shares valued at ₹2,382 crore. If fully accepted, the combined shareholding of the acquirers, persons acting in concert, and existing promoters could reach approximately 61.5%. The funds raised will be used for organic growth, strategic acquisitions, and market expansion. Nazara has been actively expanding its portfolio through acquisitions, including intellectual property rights for mobile games and stakes in various gaming and technology firms. Nitish Mittersain, CEO of Nazara, stated that the additional funding will enable faster actions and capitalize on global opportunities. Shares of Nazara Technologies closed at ₹1,066.8 on the BSE, a 4.21% increase from the previous close.

#Nazara Technologies #Mithun Sacheti #CaratLane #Arpit Khandelwal #Plutus Wealth Management #Axana Estates LLP #Axana #SEBI #SAST #Axana Estates #Junomoneta Finsol #Nazara #Nitish Mittersain #Shares

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Nazara Raises ₹495 Crore at ₹990/Share, Triggers ₹2,382 Crore Open Offer with Junomoneta Finsol

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