Axana Estates and Plutus Wealth Management, along with Junomoneta Finsol, have made an open offer to acquire up to a 26% stake in Nazara Technologies Ltd.

The open offer is priced at ₹990 per share, which is a 7% discount to the current market price of Nazara Technologies. The offer targets the acquisition of 2.41 crore shares, valued at approximately ₹2,382 crore.

Plutus, along with Mithun Sacheti will become the promoter of Nazara Tech after completion of the open offer. The current promoter, who have a 9% stake in company, will also form the part of promoter group.

Plutus Wealth entities already held a 13.3% stake in the company. Post this transaction, the stake would be 27.2% for Axan Estates and Plutus Wealth.

Nazara Technologies also announced raising of funds up to ₹495 crore through preferential issue of shares.

The company has announced a preferential issue of up to 50,00,000 equity shares at ₹990 per share, raising up to ₹495 crore. This is for an identified investor, Axana Estates LLP.

Axana Estates is promoted entity of CaratLane promoter Mithun Sacheti.

The company will acquire IP assets from Zeptolab for ₹67 crore. IP assets include Crash Arena Turbo Stars and King of Thieves.

In response to the news, shares of Nazara Technologies Ltd. surged as much as 4% to trade at ₹1,060.60. The stock has risen 5% so far in 2025, trading in the positive on a year-to-date basis.

First Published: Jan 20, 2025 2:32 PM IST

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