Nazara Tech Fundraise: Rs 495 Crore From CaratLane Founders Arpit Khandelwal & Mithun Sacheti

In a significant boost to its growth trajectory, Nazara Technologies, a leading diversified gaming and sports media platform, announced that it has received board approval to raise Rs 495 crore from Axana Estates LLP, an entity led by existing investors, Plutus Wealth management founder Arpit Khandelwal and CaratLane co-founder Mithun Sacheti. 

This move highlights the confidence investors have in the company’s potential to expand and solidify its position in the competitive gaming and esports industry.
The fundraising round was conducted through a preferential allotment of equity shares, a method that allows the company to quickly mobilize capital while avoiding the complexities of a public offering.

Axana Estates LLP, backed by Khandelwal and Sacheti, will invest Rs 495 crore to acquire a 5.40 percent stake in Nazara through a preferential issue of equity shares priced at Rs 990 per share. 

As per industry watchers, this capital infusion is expected to bolster Nazara's expansion plans, including scaling its current operations, investing in strategic acquisitions, and enhancing its technological infrastructure.

Driving Growth in Gaming and Esports

It is pertinent to note that Nazara Technologies has been at the forefront of the gaming revolution in India, with a diversified portfolio spanning mobile gaming, esports, and gamified early learning. The company owns a suite of brands like Nodwin Gaming and Sportskeeda, which have shown robust growth in recent years.
With the gaming industry in India projected to grow exponentially, this fundraising round is timely. It equips Nazara with the resources to capitalize on emerging opportunities in mobile gaming, esports tournaments, and content creation, as per industry watchers

Market Potential and Industry Outlook

India’s gaming market has witnessed exponential growth, fueled by smartphone penetration, affordable internet, and a young demographic. As one of the early movers in the space, Nazara is well-positioned to benefit from these trends.
Moreover, the company's expansion into global markets and investments in cutting-edge gaming technologies reflect its ambition to be a dominant player, not just locally but internationally, as claimed by the company.