Whalesbook
New Director Brings IPO Experience
Manish Agarwal, who previously led Nazara Technologies through its successful 2021 IPO, has joined NODWIN Gaming's board as a non-executive director. This appointment is a key step in NODWIN Gaming's plan to go public. Agarwal will focus on improving company governance and preparing NODWIN for public markets, which are vital for any company seeking a listing.
Agarwal brings a decade of experience from Nazara Technologies, where he served as CEO from 2015 to 2022. This background offers NODWIN invaluable expertise in growing operations and managing public market requirements. The esports company plans to use this knowledge to build a strong global platform with solid institutional backing.
This appointment is part of a larger strategy to improve oversight and direction as NODWIN prepares for a potential listing. The company has also recently added Sidharth Kedia as Chief Strategy and Investments Officer and Arnd Benninghoff to its board, further strengthening its leadership team.
Strong Financials Fuel IPO Plans
NODWIN Gaming has shown strong financial growth. The company reported revenues of ₹524 crore for fiscal year 2025, continuing a compound annual growth rate of over 50% since 2018. In the first three quarters of FY26, revenue already exceeded ₹530 crore, and the firm remains profitable on an EBITDA basis.
Expansion and Funding Ahead of IPO
Beyond esports, NODWIN is expanding into a full youth media platform. This strategy aims to reach a wider audience and grow internationally. The company is reportedly looking into a pre-IPO funding round of about $100 million. Potential stake sales by current investors also signal investor interest and strategic capital plans.