Nodwin Gaming Strengthens Events Portfolio with Rs. 55 Crore Acquisition of Comic Con India

Author: Sadik Shaikh


Published at: 08 Feb 2024

Nodwin Gaming, the esports arm of Nazara Technologies, has unveiled its ambitious plan to acquire Comic Con India in a significant transaction valued at Rs. 55 crore. This strategic move, announced on January 24, marks Nodwin Gaming’s endeavor to bolster its events portfolio in the ever-expanding gaming and entertainment sector.

As per Money Control reports, the acquisition will involve Nodwin Gaming contributing Rs. 27.4 crore in cash and exchanging Rs. 27.5 crore in Comic Con India shares. The founders of Comic Con India, Jatin Varma and Karan Kalra, will retain their leadership roles within the company, operating under the Nodwin Gaming umbrella.

Established in 2011, Comic Con India orchestrates pop culture extravaganzas across major cities in the country, showcasing a diverse array of elements such as comics, cosplay, films, TV shows, merchandise, and gaming. This acquisition seamlessly aligns with Nodwin Gaming’s vision to broaden its offerings and cater to the eclectic interests of India’s youth.

Akshat Rathee, co-founder of Nodwin Gaming, underscored the strategic importance of this integration, remarking, “The inclusion of Comic Con India into Nodwin’s repertoire will amplify and diversify our offerings. The convergence of Gaming, Pop Culture, and esports will benefit from a robust and scalable intellectual property, both domestically and internationally.”

Financially, Comic Con India demonstrated remarkable resilience, recording a turnover of Rs. 16.26 crore in the fiscal year ending March 31, 2023, compared to Rs. 24 lakh in FY22 and Rs. 89 lakh in FY21. This positive trajectory reflects a rebound following the adverse impact of the Covid-19 pandemic on the events sector.

Following the acquisition, Nodwin Gaming aims to expand its festival footprint to more cities across India and beyond. The company is committed to enriching the fan experience by hosting an array of events celebrating the intersection of gaming, esports, comics, and popular culture.

Nodwin Gaming, founded by Akshat Rathee and Gautam Singh Virk, already boasts a robust portfolio of intellectual properties encompassing tournaments, festivals, and conferences in esports, gaming, music, comedy, and live experiences. With operations spanning South Asia, Singapore, the Middle East, and Turkey, the company has strategically positioned itself as a prominent player in the global gaming and entertainment landscape.

This acquisition is in line with Nodwin Gaming’s broader expansion strategy through acquisitions and investments. Recent strategic initiatives include acquiring stakes in live events companies, gaming enterprises, and securing funding from prominent investors such as Sony Group Corporation and Innopark, elevating the company’s valuation to $349 million in May 2023—a significant surge from its earlier valuation of $135 million in March 2021.