- Axana Estates, Junomoneta Finsol, and Plutus Wealth have acquired the majority of Nazara Technologies with CCI's approval, bringing about a significant change in ownership of the gaming behemoth.
- With a market valuation of ₹11,229 crore, Nazara continues to attract investors and hopes to capitalize on local intellectual property through a future Bigg Boss game.
The acquisition of a majority stake and control in Nazara Technologies Limited by Axana Estates LLP, Junomoneta Finsol Private Limited, and Plutus Wealth Management LLP has been approved by the Competition Commission of India (CCI), completing a major ownership transition of one of the most prominent gaming and sports media companies in the nation.
Despite a 53.6% decline in profits to ₹13.7 crore in Q3 FY25, Nazara reported a 67% year-over-year increase in operating revenue to ₹535 crore.
Founder Nitish Mittersain recently said that Nazara will have ₹700 crore in cash on its balance sheet, increasing its firepower for future acquisitions. The company has not yet released its Q4 FY25 results.
After acquiring the rights to the well-known Indian reality show, Nazara also intends to leverage local intellectual property with a forthcoming Big Brother game. Nazara's market value was ₹11,229 crore ($1.3 billion) as of Wednesday afternoon, when its shares were trading at ₹1,279 each.
Arpit Khandelwal and Mithun Sacheti are listed as named partners of Axana Estates LLP. Khandelwal founded Plutus Wealth Management and serves as its managing partner. Sacheti founded CaratLane, which is currently owned by Titan. Plutus Investments and Khandelwal both own shares in Junomoneta.
As of March 2025, Arpit Khandelwal owns 7.87%, Plutus Wealth owns 11.54%, and Mittersain and Mitter Infotech together control 8.75%.
SBI Mutual Fund (8.52%) and Rekha Jhunjhunwala (7.06%), who owns shares on behalf of the late investor Rakesh Jhunjhunwala, are two other significant owners.
Edited by Harshajit Sarmah
