Choice Capital Advisors Private Ltd has submitted to the Exchange a copy of post offer advertisment in accordance with Regulation 18(12) of the SEBI (SAST) Regulations, 2011 of the company.
NAZARA · price
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Awaiting price reaction for this filing.
Choice Capital Advisors has filed the Post-Offer Advertisement for the open offer to acquire up to 2.40 crore equity shares (26% of voting capital) of Nazara Technologies at ₹990 per share on behalf of Acquirer 1 Axana Estates LLP, Acquirer 2 Plutus Wealth Management LLP, and PAC Junomoneta Finsol Private Limited. The offer was open from June 19 to July 2, 2025, with payment made on July 7, 2025. In a striking outcome, only 1,889 shares were tendered by public shareholders against the 2.40 crore shares on offer — virtually a 0% response rate, with actual consideration paid at just ₹18.70 lakh versus the proposed ₹2,384 crore. Separately, Acquirer 1 (Axana Estates LLP) received a preferential allotment of 50 lakh shares at ₹990 each, taking their post-offer holding to 2.51 crore shares (27.15%), well below the 53.15% they had originally targeted assuming full open offer acceptance.
The near-total rejection of the open offer suggests public shareholders were unwilling to tender at ₹990 per share, likely viewing the stock as fairly or undervalued at that price — a soft negative signal for any short-term re-rating hopes tied to a control change. With the acquirers ending up with only 27.15% (thanks to the preferential issue rather than the open offer), Nazara remains effectively a public-controlled company, reducing the likelihood of a near-term takeover-driven re-rating.