Gaming
NODWIN Gaming acquires Comic Con India
Mumbai: NODWIN Gaming the esports and gaming industry in South Asia, has successfully acquired Comic Con India, a renowned company celebrated for organizing numerous pop cultural festivals across the country. This strategic acquisition not only broadens NODWIN Gaming’s portfolio but also signifies a significant expansion into the global entertainment landscape.
NODWIN Gaming will acquire 100 per cent of Comic Con India’s shares at a valuation of Ra 55 crore through a cash and share swap from its founders, Jatin Varma and Karan Kalra. The managing team will also become shareholders by swapping 27.5 Crores of their Comicon India shares with NODWIN shares.
Comic Con India founder Jatin Varma stated “For more than a decade, we have worked tirelessly to build a unique space in India for promoting and celebrating popular culture. And with that goal in mind, I am very excited to join hands with NODWIN Gaming in taking the next step and building upon this goal together”.
Comic Con India, partner and director Karan Kalra added “I am thrilled that this strategic partnership will enable us to deliver amazing events and experiences to pop culture fans across India”.
NODWIN Gaming co-founder and managing director Akshat Rathee stated, “We are thrilled to welcome the managing team of Comic Con India as partners and shareholders in NODWIN Gaming. Our quest for drawing millions of fans across the world will get another level up with Comicon.”
NODWIN Gaming plans to expand Comic Con India into its portfolio, to offer a platform for gaming enthusiasts, comic fans, and pop culture enthusiasts. The strategic move aims to redefine the entertainment industry, transcending geographical and cultural boundaries.
Gaming
MTG gaming chief Benninghoff joins NODWIN board as esports firm primes for IPO
The Gurugram-based esports firm is pursuing a public listing, has returned to profitability and is growing revenues by 42 per cent
GURUGRAM: NODWIN Gaming is moving fast. The Gurugram-based gaming and esports company has launched a pre-IPO fundraising round, appointed UBS as lead adviser for both the round and a subsequent public listing, and landed a heavyweight board director, all in one go.
The new board member is Arnd Benninghoff, executive vice president of gaming at Stockholm-listed Modern Times Group (MTG), who has overseen the group’s strategic investments and portfolio growth since 2014. He is no stranger to building things: Benninghoff has founded and built fifteen companies, served as chief digital officer at ProSiebenSat.1 Media AG, managing director of SevenVentures, and chief executive of Holtzbrinck eLAB. He began his career as a journalist at Deutsche Presse Agentur and various TV networks, holds a Diplom-Kaufmann in business and administration from the University of Münster, and previously sat on the board of Edgeware AB.
The numbers back the ambition
NODWIN is not pitching a story without substance. The company has returned to EBITDA profitability and posted a 42 per cent year-on-year revenue surge, reaching $58.5m in the first nine months of FY2026. The pre-IPO round will combine a primary issuance to fund global expansion through organic growth and acquisitions, alongside a secondary sale to give existing shareholders some liquidity.
Akshat Rathee, co-founder and managing director of NODWIN Gaming, said Benninghoff understands “the entire lifecycle of the gaming and media ecosystem, from the boots-on-the-ground reality of building startups to the strategic complexity of managing multi-billion dollar global portfolios.”
Benninghoff, for his part, said the company “sits at the intersection of sports, entertainment, and technology, making it one of the most exciting players in the global gaming landscape today.”
A portfolio built for the global south
Founded in 2014 by Rathee and Gautam Virk, NODWIN has quietly assembled one of the more compelling esports portfolios outside the Western hemisphere. Its properties include DreamHack India and Comic Con India, and it recently acquired StarLadder, the Ukraine-based tournament organiser behind premier events in CS:GO and Dota 2. The company also serves as a long-term strategic marketing partner for the Evolution Championship Series (EVO), the world’s most prominent fighting game tournament, helping push it into new geographies.
Its geographic focus spans South Asia, Central Asia, Southeast Asia, the Middle East and Africa. Backers include Nazara Technologies, KRAFTON, Sony Group Corporation, JetSynthesys, and the founders’ investment vehicle Good Game Investments.
What comes next
With UBS running the books, a board freshly reinforced with European media and gaming expertise, and revenue heading in the right direction, NODWIN is laying the groundwork deliberately. The esports industry has burned investors before with big promises and thin margins. NODWIN’s return to profitability, combined with a real portfolio of owned intellectual properties across gaming, music and youth culture, gives it a more credible runway than most. The IPO clock is now ticking.
