Nazara Technologies secures ₹495 crore investment from Axana Estates LLP to fuel global expansion

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Nazara Technologies, a leading diversified gaming and sports media company, has announced board approval to raise ₹495 crore from Axana Estates LLP. The entity, led by investors Arpit Khandelwal, founder of Plutus Wealth Management, and Mithun Sacheti, co-founder of CaratLane, will support Nazara’s plans for acquisitions and global growth.

As reported by Money Control, this strategic partnership aligns with Nazara’s vision of becoming a global gaming and digital entertainment leader. The transaction follows Nazara’s recent ₹855 crore funding round in November 2024, which included contributions from SBI Mutual Fund and other prominent investors.

Axana Estates will acquire a 5.4% stake in Nazara Technologies through a preferential equity share issue priced at ₹990 per share. Additionally, Axana Estates, Plutus Wealth Management, and associate firm Junomoneta Finsol are launching a public open offer to acquire an additional 26% stake at the same price, totalling ₹2,382.35 crores.

If fully accepted, the acquirers and existing promoters and promoter groups will hold approximately 61.5% of Nazara Technologies. Current investors Plutus Wealth, Junomoneta Finsol, and the Sacheti family together hold significant stakes in the company, with this transaction further solidifying their promoter roles.

Nazara’s stock reflected market confidence, trading at ₹1,061.05 on the NSE, up 3.78% from the previous close. Vikash Mittersain, Chairman and Managing Director, expressed optimism about the collaboration:

“Nazara is set for global growth, and we are excited to partner with Arpit and Mithun, who share our vision. Their belief in our potential will help us scale new heights, positioning Nazara as a unique global gaming company from India.”

Arpit Khandelwal emphasised the strategic significance of the investment, stating that the consolidation of ownership would catalyze growth. He said, “This consolidation of ownership will provide growth capital and strategic expertise to support Nazara in becoming a world-leading gaming and entertainment brand.”

Mithun Sacheti underscored the unique appeal of gaming, highlighting its ability to merge entertainment, technology, and community to deliver unparalleled engagement. He expressed enthusiasm about the partnership, stating, “We are thrilled to partner with Nazara to unlock its immense potential and drive global growth.”

Nazara is leveraging this capital to enhance its organic growth, pursue strategic acquisitions, and enter new markets. Recent acquisitions include intellectual property rights for mobile games CATS: Crash Arena and King of Thieves from Barcelona-based ZeptoLab for ₹66.6 crore. The games collectively generated $6.1 million in revenue in 2024 and will now be published under the “Nazara Publishing” banner.

Other major deals in the past year include a ₹982 crore investment in Moonshine Technology (parent company of PokerBaazi), the acquisition of UK-based Fusebox Games for ₹228 crore, and a 15.86% stake in esports platform Stan for ₹18.4 crore.

Nazara also plans to consolidate its subsidiaries, including Paper Boat Apps and Nextwave Multimedia, to bring its core gaming operations under one entity, enhancing revenue and free cash flow for reinvestment.

Nazara is set to roll out an in-game monetization platform, gCommerce, in collaboration with the Open Network for Digital Commerce (ONDC) in Q1 FY26. This platform will enable game developers to integrate e-commerce directly into their games, unlocking new revenue streams.

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