{"id":220957,"date":"2025-01-22T01:54:17","date_gmt":"2025-01-22T01:54:17","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/22\/nazara-to-raise-rs-495-crore-through-5-4-stake-sale-to-axana-estates-the-times-of-india\/"},"modified":"2025-01-22T01:54:17","modified_gmt":"2025-01-22T01:54:17","slug":"nazara-to-raise-rs-495-crore-through-5-4-stake-sale-to-axana-estates-the-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/22\/nazara-to-raise-rs-495-crore-through-5-4-stake-sale-to-axana-estates-the-times-of-india\/","title":{"rendered":"Nazara to raise Rs 495 crore through 5.4% stake sale to Axana Estates &#8211; The Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/i2.wp.com\/static.toiimg.com\/thumb\/msid-117440928,imgsize-13596,width-400,resizemode-4\/117440928.jpg?ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Nazara to raise Rs 495 crore through 5.4% stake sale to Axana Estates &#8211; The Times of India\" title=\"Nazara to raise Rs 495 crore through 5.4% stake sale to Axana Estates &#8211; The Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div>\n<div class=\"MwN2O\">\n<div class=\"vdo_embedd\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>Nazara Technologies<!-- --> announced on Monday its plans to secure Rs 495 crore through a 5.4% <!-- -->stake sale<!-- --> to <!-- -->Axana Estates<!-- -->, an entity established by the company&#8217;s current investors. The entity was formed by Arpit Khandelwal, who founded <!-- -->Plutus Wealth Management<!-- -->, and Mithun Sacheti, the co-founder of CaratLane.<br \/> The funding, aimed to support Nazara&#8217;s <!-- -->strategic acquisitions<!-- --> and international growth plans, will likely grant promoter designation to Khandelwal and Sacheti, placing them alongside the company&#8217;s founder <!-- -->Nitish Mittersain<!-- --> and his family members.&#8221;This consolidation of ownership will provide growth capital and bring strategic expertise to support Nazara, its promoters and team in the journey of becoming a world-leading <!-- -->gaming and entertainment<!-- --> brand,\u201d Khandelwal said in a statement.<br \/>The transaction, which is priced at Rs 990 per share, has triggered an <!-- -->open offer<!-- --> wherein Plutus Wealth Management and Axana Estates, along with persons acting in concert (PAC), will launch a public open offer to acquire an additional 26% stake in Nazara. The move is to comply with Sebi regulations that monitor 25% or above shareholding in a company. The exercise is expected to bring the total shareholding of the acquirers and PACs, along with the existing promoters \u2013 Vikash Mittersain, Nitish Mittersain, and the promoter group, to 61.5% of the company. This is contingent upon the open offer of 26% being fully subscribed. The current holding of the promoters in the company is 9%.<br \/>\u201cExisting promoters, which are me and my family, will continue to run the business and continue to be in control of the company. I continue as CEO of the business. Nothing changes in the way the business is operating today,\u201d Nitish Mittersain told TOI.<br \/>The open offer is sized at about 2.4 crore equity shares of face value of Rs 4 per share, making up to 26% of the target company, aggregating to a value of about Rs 2,382 crore.<br \/>The NSE- and BSE-listed gaming and media firm in September also issued shares to raise Rs 900 crore from a consortium of investors comprising SBI Mutual Fund. It also announced the acquisition of two game rights from ZeptoLab for Rs 67 crore.<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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The entity was formed by Arpit Khandelwal, who founded Plutus Wealth Management, and Mithun Sacheti, the co-founder of CaratLane. The funding, aimed to support Nazara&#8217;s strategic acquisitions [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":220958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-117440928,imgsize-13596,width-400,resizemode-4\/117440928.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[173868,173867,1955,16273,173866,273,23899,13951,173865,30941,173864,4605,7481,2341,6181,173863,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/220957"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=220957"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/220957\/revisions"}],"predecessor-version":[{"id":220959,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/220957\/revisions\/220959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/220958"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=220957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=220957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=220957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}