Nazara Technologies, the online gaming firm, on Monday said it has raised ₹495 crore from Arpit Khandelwal, founder and managing partner of Plutus Wealth Management LLP, and Mithun Sacheti, tech entrepreneur and founder of Caratlane.
Nazara Technologies disclosed that Axana Estates LLP, whose designated partners include Khandelwal and Sacheti, will infuse the amount into the company to acquire around 5.40 per cent stake.
This will be done through a preferential issue of equity shares at a price of ₹990 per share. The Nazara share on Monday closed at ₹1,066.80 on the BSE — a gain of 4.21 per cent
At present, Khandelwal and Sacheti in their personal capacity and through a couple of other entities that include Junomoneta Finsol and Plutus Wealth Management Llp hold 21 per cent of Nazara. Following the preferential allotment, their stake will cross the 25 per cent threshold necessitating the 26 per cent open offer to public shareholders.