Nazara Technologies Limited has formed a strategic partnership with Axana Estates LLP, founded by Arpit Khandelwal and Mithun Sacheti.

The partnership includes an investment of 495 crore rupees (US$57.17 million) and the acquisition of two mobile game intellectual properties.

Axana Estates LLP will invest in Nazara through a preferential issue of equity shares priced at 990 rupees (US$11.44) per share, resulting in a 5.40% stake.

This deal is subject to shareholder and regulatory approvals and complies with SEBI (ICDR) regulations.

Additionally, an open offer will be launched to acquire a 26% stake in the company under SEBI guidelines.

After the deal closes, the combined shareholding of the acquirers, promoters, and promoter group is expected to approach 61.5%.

Recent Nazara Technologies developments