Online Gaming company, Nazara Technologies said, “Plutus Wealth Management and its associates have acquired shares worth of Rs 500 crores from WestBridge Ventures II in the secondary transaction between the parties.”
“This transaction marks the complete exit of WestBride Ventures from Nazara Technologies, which had joined as an early investor back in 2005,” the statement said.
Speaking on the acquisition of shares from WestBridge, Arpit Khandelwal, Managing Partner of Plutus Wealth Management, said, “We believe gaming will be a prominent form of entertainment, will do well in the next decade. We believe Nazara is well placed to leverage the vast available opportunity. We are excited to begin our long term journey with their goal and vision.”
“Creating value for all stakeholders has always been very important for Nazara we are excited to onboard Plutus Wealth as a long term investor in Nazara. I am glad that we have been able to deliver a great return to WestBridge who backed us early in 2005,” Nitish Mitersain, Founder & MD of Nazara Technologies said.
