Nodwin Gaming looks to raise $200-M ahead of IPO

Nazara-backed e-sports and youth media platform NODWIN Gaming is planning to raise $100-M to $200-M through a mix of primary and secondary funding as it prepares for an IPO. Nazara Technologies currently holds about a 46% to 47% stake in the company following a stake dilution that led to the entity's deconsolidation from Nazara’s books during FY26.Founded in 2015 by Akshat Rathee and Gautam Virk, the company operates as an e-sports and youth media platform, focusing on gaming content, creator-led IPs, live events, and Comic Con operations.The company intends to use the potential capital to further its strategic goals as it transitions into a live youth media entity. NODWIN reported an EBITDA profit of Rs.21-Cr in FY26, representing a recovery from the Rs.14-Cr loss recorded in the previous fiscal year.