Nazara Technologies Ltd is in focus as a major open offer has been launched to acquire up to 26% of its equity shares at a price of ₹990 per share. The offer is being made by Axana Estates LLP and Plutus Wealth Management LLP, along with Junomoneta Finsol Pvt Ltd as the Person Acting in Concert (PAC), under SEBI’s takeover regulations.

The open offer is set to acquire up to 2.41 crore shares, amounting to ₹2,384.17 crore, and comes following a preferential allotment of 50 lakh shares to Acquirer 1 (Axana Estates LLP) approved earlier this year. The tendering period for the open offer will run from June 19 to July 2, 2025, with the Competition Commission of India’s (CCI) approval for the transaction already in place.

Post completion of the preferential allotment and open offer, the acquirers and PAC (including deemed PACs) aim to hold a substantial stake in Nazara, with plans to be classified as promoters alongside the existing promoter group. If fully subscribed, the combined holding of the existing and incoming promoters would rise to 61.48% of the total voting share capital.

The acquirers intend to support Nazara’s strategic growth, with focus on organic expansion, acquisitions, and entry into new markets. No changes to the company’s core operations or significant asset disposal are planned in the next two years.

The offer will be managed by Choice Capital Advisors Pvt Ltd, with MUFG Intime India Pvt Ltd serving as registrar. The offer price of ₹990 per share represents a premium over recent market prices, and investors will closely watch shareholder response in the coming days.