Nazara Gets Regulatory Green Light for Strategic Stake Sale to Axana Estates and Partners Axana Estates is backed by Arpit Khandelwal, founder of Plutus Wealth, and Mithun Sacheti, founder of CaratLane.
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The Competition Commission of India (CCI) has approved the acquisition of a majority stake in Nazara Technologies by Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol Pvt Ltd. This marks a significant development for the Mumbai-based gaming and sports media company.
In January 2025, the consortium launched an open offer to acquire up to 26% of Nazara's shares, following an INR 495 crore preferential share allotment to Axana Estates at INR 990 per share. This gave Axana a 5.4% stake in the company. Axana Estates is backed by Arpit Khandelwal, founder of Plutus Wealth, and Mithun Sacheti, founder of CaratLane.
With the completion of this deal, Axana Estates and Plutus Wealth will jointly hold a 27.2% stake in Nazara. If the open offer is fully subscribed, the combined shareholding of the acquirers, persons acting in concert (PACs), and existing promoters may rise to 61.5%.
Despite the ownership changes, Nazara will continue under the leadership of Chairman Vikash Mittersain and CEO Nitish Mittersain. The fresh capital will fuel organic growth, strategic acquisitions, and global expansion.
Nazara, a leader in the gaming ecosystem, has been on an acquisition spree. Recently, it acquired UK-based Curve Games for INR 247 crore, strengthening its foothold in the PC and console gaming space. Other acquisitions include TJRWrestling, King of Thieves, and Trinity Gaming.
As of March 2025, Plutus Wealth and Arpit Khandelwal jointly hold a 19.41% stake, while SBI Mutual Fund and Rekha Jhunjhunwala also remain key investors.
The CCI's approval paves the way for deeper investor participation, positioning Nazara to scale its global ambitions in gaming and esports.
