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Nazara ends majority control in Nodwin ahead of internal fundraise

EntrackrEntrackr · 1m ago
Nazara ends majority control in Nodwin ahead of internal fundraise
Medial

Nazara ends majority control in Nodwin ahead of internal fundraise Nazara Technologies on Wednesday said that it will no longer retain majority control in its subsidiary Nodwin Gaming. The decision comes as Nodwin prepares to raise new capital from existing shareholders to fund expansion in esports and youth media. Nazara has chosen not to participate in the upcoming round, which will reduce its shareholding in Nodwin to below 50%, the company said in a stock exchange filing. However, it will remain Nodwin’s largest shareholder. To support the fundraise, Nazara’s board has also approved the waiver of certain controlling and restrictive rights. This move will give Nodwin greater operational and financial flexibility, enabling it to raise capital independently. The board has approved Nodwin’s de-subsidiarisation, pending shareholder approval at the August 13 EGM. Post fundraise, Nodwin will be reclassified as an associate company. In January 2018, Nazara acquired a 55% stake in Nodwin Gaming through a cash-and-stock deal. Since then, it has infused capital in the Gurugram-based company in multiple tranches. Most recently, Nazara pumped in Rs 64 crore ($7.5 million) in Nodwin in December last year for expanding its business and intellectual property (IP) portfolio. This will be the second listed, venture-backed company from the Indian startup ecosystem to dilute its stake in a subsidiary below 50%. PB Fintech recently reduced its stake in its subsidiary PB Healthcare Services from 100% to 26% following a fundraise. However, it also participated in the funding round.

NODWIN Gaming receives Rs 64 Cr from parent Nazara Technologies

EntrackrEntrackr · 8m ago
NODWIN Gaming receives Rs 64 Cr from parent Nazara Technologies
Medial

Gaming and esports company Nodwin Gaming has received approval of Rs 64 crore ($ million) in funding from its parent company Nazara Technologies. The proceeds will be allocated to fuel NODWIN Gaming’s ongoing expansion momentum, focusing on enhancing its capabilities, growing its portfolio of intellectual properties (IPs), and strengthening its presence in emerging markets. Before this investment, the Gurugram-based company was valued at $410 million as of November this year. NODWIN Gaming, a part of the listed company Nazara Technologies, is a gaming and sports media platform with a presence in India and global markets such as Africa and North America. It offers interactive gaming, e-sports and gamified early learning ecosystems. NODWIN Gaming recently expanded its portfolio with strategic acquisitions including Freaks 4U Gaming, a German esports and gaming marketing agency; events company Comic Con, Ninja Global a Turkish esports and gaming company; Singapore-based live events firm Branded; and Publishme, a West Asia and Turkey-focused marketing agency. Last week, the Nazara subsidiary also acquired Trinity Gaming for Rs 24 crore.

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