NODWIN Gaming has successfully acquired Comic Con India, a company known for organizing various pop cultural festivals targeting the youth in India. In this transaction, NODWIN Gaming is set to acquire the complete shareholding of Comic Con India at a valuation of Rs 55 crore, utilizing a combination of cash and share swaps from the co-founders of Comic Con India, Jatin Varma and Karan Kalra. Both co-founders will continue to operate the business under the umbrella of NODWIN Gaming.
The acquisition comes after NODWIN Gaming secured Rs 164 crore in funding from Krafton, the developer of PUBG Mobile, in March 2021. With this latest move, the managing team of Comic Con India will also become shareholders in NODWIN Gaming by exchanging Rs 27.5 crores of their Comic Con India shares for NODWIN shares.
Comic Con India, founded by Jatin Varma and Akshat Rathee, has grown into a company that organizes diverse festivals across India, celebrating various elements of popular culture such as comics, cosplay, movies, TV shows, merchandise, gaming, and more. These festivals take place in major cities like New Delhi, Mumbai, Bengaluru, Hyderabad, and Chennai.
The integration of Comic Con India into NODWIN Gaming is expected to create a unique platform catering to gaming enthusiasts, comic fans, and pop culture aficionados. The plan is to expand the number of festivals and extend their reach to additional cities across India and beyond. This strategic move aligns with the broader trend of synergies between the gaming and pop culture sectors, aiming to provide a holistic experience for fans and participants.
As part of the acquisition, the co-founders, Jatin Varma and Karan Kalra, express their commitment to continue operating and contributing to the business under the NODWIN Gaming umbrella. This collaboration is anticipated to leverage the strengths of both entities, combining NODWIN Gaming’s expertise in the gaming industry with Comic Con India’s established position in pop culture events.
NODWIN Gaming, known for its prominence in the esports and gaming domain, is likely to benefit from the diverse portfolio of events and fan engagement opportunities that Comic Con India brings to the table. This move reinforces NODWIN Gaming’s commitment to expanding its presence and offerings in the dynamic landscape of gaming, esports, and related entertainment avenues.
In summary, the acquisition of Comic Con India by NODWIN Gaming signifies a strategic alliance that seeks to enhance the cultural and entertainment landscape in India. The integration of gaming, comics, and pop culture festivals is poised to create a compelling platform for enthusiasts and participants, setting the stage for future growth and innovation in the gaming and entertainment sectors.
