CCI Greenlights Majority Stake Acquisition in Nazara Technologies by Axana Estates, Plutus Wealth, and Junomoneta Finsol

India’s Competition Commission (CCI) has approved a landmark deal allowing Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol Private Limited to acquire a majority stake in gaming giant Nazara Technologies. This strategic move is set to reshape the ownership structure and accelerate Nazara’s ambitions in the global gaming and digital entertainment space.

 

Key Highlights:

 

Deal Structure: The transaction begins with Axana Estates acquiring a 5.4% stake in Nazara Technologies via a ₹495 crore preferential allotment at ₹990 per share. This investment is led by industry veterans Arpit Khandelwal (Plutus Wealth) and Mithun Sacheti (CaratLane founder), who will become co-promoters alongside Nazara’s existing leadership.

 

Open Offer for Majority Control: Following the initial stake purchase, Axana Estates, Plutus Wealth, and Junomoneta Finsol, along with persons acting in concert (PACs), will launch a public open offer to acquire an additional 26% stake at ₹990 per share. If fully subscribed, this will increase the combined holding of the acquirers and existing promoters to approximately 61.5%, giving them majority control of Nazara Technologies.

 

Strategic Growth Focus: The capital infusion will fuel Nazara’s organic expansion, strategic acquisitions, and entry into new markets. The company also recently acquired the IP rights for two popular mobile games from ZeptoLab for $7.7 million, strengthening its global gaming portfolio.

 

Leadership Continuity: Nazara will continue under the stewardship of Chairman Vikash Mittersain and CEO Nitish Mittersain, ensuring stability as the company embarks on its next phase of growth.

 

Regulatory Compliance: The deal is subject to shareholder and regulatory approvals, and aligns with SEBI’s disclosure and takeover regulations.

 

With CCI’s nod, Nazara Technologies is poised for accelerated growth and deeper penetration into the global gaming arena.

 

Sources: Economic Times, Inc42, Business World, Entrackr, CCI