India, Feb. 18 -- Nazara Technologies' shareholders have approved issuing equity shares for cash on a preferential basis to raise INR 495 Cr from Axana Estates, which is backed by Plutus Wealth Management founder Arpit Khandelwal and CaratLane cofounder Mithun Sacheti.

The proposal received 99.99% of the votes cast in favour.

With this, Axana Estates, previously a non-promoter, will become a promoter holding 5.4% of Nazara's post-issue share capital.

Notably, Plutus Wealth Management, Axana Estates and Junomoneta Finsol are also acquiring an additional 26% stake in the company from its stakeholders. For which they have launched an open offer.

As per the open offer, the three existing backers will acquire up to 2.4 Cr (2,40,64,121) equ...