As part of this transaction, NODWIN Gaming will acquire 100% of the shares of Comic Con India at a valuation of Rs 55 crore through a combination of cash and share swap from the founders of Comic Con India - Jatin Varma and Karan Kalra. They will continue and remain to operate the business as part of NODWIN Gaming.

The managing team at Comic Con India will become shareholders in NODWIN Gaming by swapping 27.5 crore of their Comicon India shares with NODWIN shares.

Comic Con India, founded in 2011, has evolved into a company orchestrating various festivals across India, celebrating a wide range of popular culture elements including comics, cosplay movies, TV shows, merch, gaming and much more. The festivals, held in cities like New Delhi, Mumbai, Bengaluru, Hyderabad and Chennai, have become cornerstones of India's cultural calendar. The company had recorded a turnover of Rs 16.26 crore for the year ended 31 March 2023.

NODWIN Gaming, a material and independent subsidiary of Nazara Technologies, holds a significant position in the global gaming and esports industry as a leader in emerging markets. The company's business centers around building and monetising gaming and esports IPs such as leagues, tournaments, reality shows, etc. It engages with professional esports athletes, teams and content creators.

The integration of Comic Con India into NODWIN Gaming will create a platform for gaming enthusiasts, comic fans, and pop culture aficionados. The plan is to expand the number of festivals and extend their reach to more cities across India and other countries, tapping into new markets and audiences.

Nazara Technologies is a diversified gaming & sports media platform with presence in India and across emerging & developed global markets such as Africa and North America. It has offerings across the interactive gaming, eSports, ad-tech and gamified early learning ecosystems including World Cricket

The company’s consolidated net profit jumped 94.3% to Rs 19.82 crore on 12.7% increase in net sales to Rs 297.24 crore in Q2 FY24 over Q2 FY23.

The scrip shed 0.83% to currently trade at Rs 884.25 on the BSE.