Nazara Technologies on Monday said it will raise Rs 495 million through issue of preference shares. The shares will be allotted to Aksana Estates LLP at an issue price of Rs 990 per share, which represents a 5% discount to the current market price.
The prominent player in the gaming industry plans to allocate 5 million shares to Aksana Estate, according to an exchange filing. Mithun Sacheti, Siddhartha Sacheti, Yash Sacheti and Arpit Khandelwal are partners of Axana Estates.
After the share issue, Aksana Estate will own 5.4% of the gaming company’s shares. Arpit Khandelwal is already a shareholder in the company, with an 8.1% stake as of December 2024. Additionally, Khandelwal owns 11.82% stake in the company through Plutus Wealth Management LLP.
This indicates that this preferential issue may trigger a tender offer as Arpit Khandelwal owns over 25.3% of the shares in total.
Additionally, the board on Monday increased the limit for loans, guarantees and collateral provision to Rs 3,500 crore from the previous Rs 2,931.51 crore.
The Board also purchased from Zeptolab UK Ltd. all intellectual property, including trademarks, software, game works and related assets relating to the mobile game applications titled “CATS: Crash Arena Turbo Stars” and “King of Thieves”. I have approved the acquisition of rights. The acquisition price is 665.9 billion rupees.
