India’s Nodwin Gaming has acquired Comic Con India at a valuation of Rs 55 crore. As part of this transaction, Nodwin will acquire 100 per cent of the shares of Comic Con India through a combination of cash and share swap from the latter’s founders – Jatin Varma and Karan Kalra. Varma and Kalra will continue and remain to operate the business as part of Nodwin Gaming.
As part of this acquisition, the managing team at Comic Con India will also become shareholders in Nodwin Gaming by swapping Rs. 27.5 crores of its Comic Con India shares with Nodwin shares.
Comic Con India founder Jatin Varma stated, “For more than a decade, we have worked tirelessly to build a unique space in India for promoting and celebrating popular culture. And with that goal in our mind, I am very excited to join hands with Nodwin Gaming in taking the next step and building upon this goal together.”
Comic Con India partner & director Karan Kalra added, “Our aim at Comic Con India has always been to put the fans first! And I am absolutely thrilled that this strategic partnership will enable us to deliver amazing events and experiences to pop culture fans across India.”
Founded in 2011, Comic Con India has evolved into a company orchestrating various festivals across India, celebrating 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.
Nodwin Gaming co-founder and managing director Akshat Rathee stated, “We are thrilled to welcome the managing team of Comic Con India as partners and shareholders in Nodwin Gaming. Their trust in our vision reinforces our commitment to expanding our entertainment offerings. Integration of Comic Con India will amplify and diversify the offering of Nodwin to all opportunities that target the youth in India. With the continued intersection of gaming/pop culture/esports into one interactive entertainment sector, Nodwin will add a strong and robust IP that is scalable both in India and internationally. Our quest for drawing millions of fans across the world will get another level up with Comic Con.”
With Comic Con India’s integration into Nodwin Gaming’s fold, the latter plans to expand the number of festivals and extend their reach to more Indian cities and other countries, tapping into new markets and audiences.
Comic Con India concluded its Bengaluru and Delhi editions in 2023, and is set to take place in Hyderabad’s Hitex on 27 & 28 January 2024, in Chennai’s Chennai Trade Centre in February and will conclude in Mumbai’s Jio World Centre in April.
