MUMBAI:  It’s playing a sharp hand. Leading Indian gaming company Nazara Technologies has announced two key developments. The company will raise upto Rs 495 Crores through a preferential issue of upto 50 lakh equity shares at Rs. 990 per share, and acquire the Intellectual Property Rights (IPRs) of Zeptolab UK Limited for approximately Rs. 66.59 Crores.

The preferential issue of upto 50 lakh equity shares at Rs  990 per share, with a maximum consideration of Rs. 495 Crores, will be issued to Axana Estates LLP, a company associated with the promoters of Nazara Technologies. The four partners of Axana Estates include:. Mithun Padam Sacheti, Siddhartha Sacheti, Yash Siddhartha Sacheti and Arpit Khandelwal. Earlier, Nazara’s board gave the fund raising proposal a thumbs up.

The acquisition of Zepto includes the rights to CATS: Crash Arena Turbo Stars and King of Thieves, two highly successful mobile gaming IPs in their respective genres.  Nazara Technologies will take on the publishing responsibilities for both games and own the IPRs.The payment of Rs 66.59 Crores will be made in cash within 30 days, subject to regulatory approvals.