Nazara Technologies has announced it will no longer retain majority control of NODWIN Gaming, its esports and youth media subsidiary. The decision comes as NODWIN prepares to raise new capital from existing investors to fund its expansion efforts.
In a stock exchange filing on Wednesday, Nazara said it will not participate in the upcoming funding round, a move that will reduce its shareholding in Nodwin to below 50%. Despite this dilution, Nazara will remain the largest shareholder in the India-based company.
To facilitate the fundraise, Nazara’s board has also approved the waiver of certain controlling and restrictive rights, providing Nodwin with greater operational and financial independence. The board has endorsed Nodwin’s reclassification from a subsidiary to an associate company, pending approval at an Extraordinary General Meeting scheduled for 13 August.
Nazara initially acquired a 55% stake in Nodwin Gaming in January 2018 through a combination of cash and stock. Since then, it has supported the company through multiple capital infusions, including a $7,5 million investment in December 2024 to support the expansion of Nodwin’s business and intellectual property portfolio.
Mostly known for its work on titles such as the BGMI Masters Series and VALORANT Challengers South Asia, NODWIN Gaming recently announced a strategic partnership with the Esports World Cup Foundation (EWCF) to manage media rights sales and distribution for the Esports World Cup (EWC) across South Asia.
