Nazara Technologies Raises Rs 495 Cr Led By Axana Estates

Online gaming firm Nazara Technologies has raised Rs 495 crore (nearly $60 million), led by Axana Estates LLP- whose designated partners include Arpit Khandelwal- founder and managing partner of Plutus Wealth Management LLP and Mithun Sacheti- founder of Caratlane.

The investment will be used to speed up growth, make strategic acquisitions and expand into new markets.

After the investment, Axana Estates will acquire about 5.40% of Nazara, pending shareholder and regulatory approvals.

Additionally, Plutus Wealth Management LLP and Axana Estates LLP, along with their partners, plan to launch a public offer to acquire another 26% stake in Nazara Technologies Limited.

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However, the company will remain independent, according to the exchange filing. It plans to issue 50 lakh shares to Axana Estates as part of the deal.

Along with the investment, Nazara is strengthening its position in the global gaming market by acquiring the intellectual property rights for two mobile games—CATS: Crash Arena and King of Thieves—from Barcelona-based ZeptoLab. The $7.7 million (about Rs 67 crore) deal will allow Nazara to publish these games under its “Nazara Publishing” brand.

“Nazara is set for global growth, and we are excited to partner with Arpit & Mithun, who share our vision. Their belief in our potential and expertise will help us scale new heights, positioning Nazara as a unique global gaming company from India,” said Nitish Mittersain, joint managing director and CEO of Nazara Technologies.

In November 2024, Nazara Technologies has raised Rs 855 crore (approximately USD 100 million) through a preferential issue. 

In the September quarter (Q2 FY25), Nazara Technologies reported a 7.3% increase in revenue to Rs 318.94 crore, while its profit grew by 10.85% to Rs 21.97 crore.

About Nazara Technologies

Nazara Technologies Limited is a top mobile gaming company based in India, with offices in Dubai, Africa and Singapore. It is India’s largest mobile entertainment platform, serving over 100 million active users every month.

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