NODWIN Gaming is preparing for its IPO by bringing back its former CEO, Sidharth Kedia, as the new chief strategy and investments officer. Kedia, who left the company in 2023, will now oversee strategy, fundraising, and mergers.
During his previous tenure from 2019 to 2023, Kedia led NODWIN to significant growth, increasing revenue substantially and raising over $50 million. The company's valuation reached approximately $350 million following a funding round led by Sony Group Corporation.
Kedia asserts that under his leadership, NODWIN became the largest esports company in South Asia, with revenue growing tenfold and valuation soaring by 28 times over four years. After his departure, he worked as Senior Vice President at Jio Games until April 2025 and subsequently joined AI video startup Mythik in June 2025.
“Having seen the company grow over the years, it’s clear how strong the foundation is today and how much opportunity lies ahead,” Kedia stated.
NODWIN's next phase is closely tied to its public listing ambitions. Following its demerger from parent company Nazara, NODWIN is actively seeking fresh capital to facilitate its IPO process.
The company aims to raise around $100 million through a pre-IPO round, according to co-founder Akshat Rathee. He mentioned that NODWIN is implementing a structured IPO readiness framework that includes:
- Financial performance
- Board and governance alignment
- Investor demand
- Regulatory compliance
- Internal preparedness
Bankers are currently evaluating market interest and book-building visibility before a final decision is made.
Rathee anticipates that NODWIN will conclude the current fiscal year with a turnover of approximately ₹700 crore. The startup claims to be profitable in its India operations and is experiencing annual growth rates of 20-40%, with expected margin improvements.
NODWIN operates across more than 20 countries, focusing on a model that generates demand in developed markets while executing operations in cost-effective regions.
Its business is divided into two segments: live experiences and content. The live segment encompasses esports tournaments, comic conventions, and music festivals, while the content division emphasizes digital media, influencer-led content, and brand partnerships.
