Axana Estates, Plutus, others snap up 27% stake in Nazara Tech
Notably, Plutus Wealth Management LLP has acquired 10.91% in Nazara, followed by Arpit Khandelwal at 7.44%, Junomoneta Finsol at 1.7%, and Sachetis at 0.85% each, respectively
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Axana Estates LLP has acquired a 5.4% stake in online gaming company Nazara Technologies through a preferential issue of equity shares, according to a regulatory filing.
The disclosure, filed with stock exchanges, outlines that Axana Estates, along with its Persons Acting in Concert (PACs)—which include Plutus Wealth Management LLP, Junomoneta Finsol Private Limited, and individual investors Arpit Khandelwal, Mithun Padam Sacheti, and Siddhartha Sacheti, collectively hold 27.15% of Nazara’s total diluted share capital.
Notably, Plutus Wealth Management LLP has acquired 10.91% in Nazara, followed by Arpit Khandelwal at 7.44%, Junomoneta Finsol at 1.7%, and Sachetis at 0.85% each, respectively.
Prior to this acquisition, the PACs already held around 23% of the company’s shareholding.
The preferential allotment involves the issue of 50,00,000 equity shares of face value Rs 4 each.
Post-acquisition, the total equity share capital of Nazara Technologies has increased from Rs 35.04 crore to Rs 37.04 crore, consisting of 9.26 crore shares, including ESOPs.
Nazara is known for its presence in esports, interactive gaming, and gamified learning. Recently, the Competition Commission of India (CCI) has granted approval for the acquisition of a majority stake or control in Nazara Technologies Limited by Axana Estates LLP, and other six.
Axana's business activities include real estate and investment-related operations, such as acquiring, holding, and dealing in shares, securities, and financial instruments.
On the other hand, Plutus is engaged in stock and commodity broking, along with trading and investment activities across those segments. Junomoneta operates as a proprietary stockbroking firm.
Shares of Nazara Tech were down by 0.22%, trading at Rs 1,316 at 10.46 am on Thursday.
