Nazara Technologies' Stake Decreases in Nodwin Gaming, Fresh Round of Fund Raising to Take Place
Nodwin Gaming is expanding once again with a surprising move. Yes, you read that correctly. Nodwin is parting ways with Nazara and will no longer operate as a subsidiary; instead, it will become an associated company.
Nodwin Gaming is expanding once again with a surprising move. Nodwin on Wednesday revealed that they will no longer be a subsidiary of Nazara Technologies, but will still have them as a stakeholder. This is in the wake of the fact that they are going for a funding round, in which the latter won't be taking part.
Nodwin is embarking on a new venture to raise a fresh round of capital, which they will announce soon. However, this time, Nazara will not participate in the fundraising efforts. The reason for this shift is that Nazara aims to focus more on its core gaming intellectual properties (IPs) and does not wish to be involved in non-core segments. With this, the Nazara's stake will go below 50%.
An Extraordinary General Meeting (EGM) will be held on August 13, 2025, to seek shareholder approval for this significant move, known as de-subsidiarization. Once approved, formal agreements will be signed. This transition will grant Nodwin more independence and capital, but for Nazara, it will mean relinquishing certain controlling and restrictive rights.
Nazara Technologies' Relation with Nodwin Gaming Over the Years
Nodwin was founded in 2015 by industry veterans Akshat Rathee and Gautam Virk. Interestingly, the founders are also veteran gamers who have delved into the world of gaming and esports. Hailing from Haryana, Rathee, with his co-founder, has managed to make Nodwin the largest esport and gaming company in South Asia and one of the top three across the globe, having expanded to various countries and regions like EMEA.
The company is well-known in India’s gaming and esports scene and has gained global recognition by collaborating with major organisations like the Esports World Cup, Tencent, and Riot Games.
Over the years, Nodwin Gaming has set a high standard in the esports and gaming sectors. They organise various tournaments, including the BGMS, which is broadcast on the Star Sports TV channel, and hold events for publishers such as Krafton and Riot Games. Nodwin also engages in content collaborations across the industry. They acquired Comic Con India in late 2023 and Smash in early 2024, expanding into the video game and recreational spaces found in malls. They had also acquired AFK Gaming and Trinity, both of which have played crucial roles in shaping the esports and gaming industry in India.
Nazara is pleased with this development, as it has supported Nodwin since its inception. Overall, this appears to be a win-win situation for both organizations.
Akshat Rathee addressed it on Friday, saying, "Yesterday marked a significant moment in the evolution of NODWIN Gaming and Gautam Virk and my life as co-founders. We worked with our friends and major investors in Nazara Technologies Limited (Nitish Mittersain), JetSynthesys (Rajan Navani), KRAFTON India, and KRAFTON Inc. (Sean (Hyunil) Sohn) and our family office (Good Game Investments) to take a couple of MAJOR decisions
1. All investors, including the founders, will infuse 10M USD into NODWIN
2. NODWIN will cease to be a Nazara subsidiary and will become an associate (without Nazara selling any shares)
3. Founders will increase their stake in the company
This move marks a natural next chapter in NODWIN’s evolution. And the short answer is we have grown up! There comes a time in every kid's life that they need to leave the comfort of their parents' house and chart a path of their own"
You can read the whole statement here.
This shift will enable Nodwin to expand more freely, as many restrictions will be lifted. As a gamer and journalist, I'm curious to see what Nodwin will do next once all the necessary approvals are finalised. We have already witnessed Nodwin producing some of the largest and most impressive IPs in the industry, and the founders' vision is commendable. After ten years of growth in the esports and gaming industry, where Nodwin has successfully expanded into various verticals, this move should help them reach even greater heights.
It is great to see them at the Esports World Cup 2025 and their collaborations with global brands and developers. Nodwin is undoubtedly planning exciting developments, and we will be eagerly waiting for more news.
