Nazara Technologies, a leading gaming and sports media company, has announced that its esports subsidiary NODWIN Gaming will acquire 100% of the shares of Comic Con India Pvt Ltd, the organizer of the popular pop culture events in India, at a valuation of ₹55 crore. The deal will be completed within 90 days through a combination of cash and share swap from the founders of Comic Con India — Jatin Varma and Karan Kalra, who will continue to operate the business as part of NODWIN Gaming.
The acquisition will enable Nazara to expand its portfolio of gaming and entertainment offerings and tap into the growing fan base of comics, movies, merchandising and gaming in India. Comic Con India hosts annual events across major cities in India, attracting thousands of visitors and exhibitors. NODWIN Gaming is a leading esports company in India, hosting tournaments and leagues for popular games such as PUBG Mobile, Valorant, CS:GO and Dota 2.
Akshat Rathee, co-founder and managing director of NODWIN Gaming, said in a statement, “We are thrilled to welcome Comic Con India to the NODWIN Gaming family. Comic Con India has been instrumental in creating a vibrant community of pop culture enthusiasts in India and we share their vision of celebrating fandom and creating memorable experiences for fans. We believe that this partnership will create exciting synergies and opportunities for both NODWIN Gaming and Comic Con India to grow the gaming and pop culture ecosystem in India.”
Jatin Varma, founder of Comic Con India, said, “We are excited to join forces with NODWIN Gaming, a pioneer and leader in esports in India. We have been admirers of their work and vision and we believe that together we can take Comic Con India to the next level of growth and expansion. We look forward to leveraging their expertise and network to enhance our offerings and reach out to more fans across the country.”
According to a report by KPMG, the online gaming industry in India is expected to grow at a compound annual growth rate (CAGR) of 21% over FY21-FY25 to reach ₹29,000 crore. The report also estimates that the number of online gamers will increase from 360 million in FY21 to 510 million in FY25.