NODWIN Gaming To Raise Internal Funding, Will No Longer Be Nazara Subsidiary

Listed gaming company Nazara Technologies’ esports arm, NODWIN Gaming, is raising new funds from existing investors to grow its business.

Nazara won’t take part in this funding round which means its ownership in NODWIN will reduce and it will lose majority control.

In a filing, Nazara said its board has approved the move. It’s not selling any shares but simply choosing not to invest more. Since other investors are adding new capital, Nazara’s stake will get diluted.

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After the deal, Nazara will also give up some special rights it held as the majority owner, including those that influenced key decisions at NODWIN. As a result, NODWIN will now be classified as an “associate company.” However, Nazara will still be its largest shareholder.

Nazara said the decision fits its strategy to focus more on core gaming IPs and less on non-core areas like esports.

The move still needs shareholder approval. An extraordinary general meeting (EGM) is scheduled for August 13 to finalize the plan. If approved, Nazara will sign formal agreements to confirm the new setup.

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Nazara added that the change will give NODWIN more financial and operational independence to scale faster in the esports and youth media space.

About NODWIN Gaming

Founded in 2015 by Akshat Rathee and Gautam Virk, NODWIN operates in esports, gaming, and youth entertainment. It organizes gaming tournaments, creates content, manages marketing, and runs live events in India and globally.

Over time, it has received investments from companies like Nazara (its majority owner), Krafton, JetSynthesys, Sony Group and Innopark.

In May 2023, NODWIN raised $28 million at a post-money valuation of $349 million. This helped the company expand quickly, make acquisitions and grow its reach.