Gaming giant to dilute stake in Nodwin Gaming below 50%, giving the esports firm room to chart its own course.
In a decisive move to sharpen its strategic focus, Nazara Technologies announced it will relinquish majority control over its subsidiary Nodwin Gaming, effectively allowing the esports and youth media powerhouse to operate independently.
The Mumbai-headquartered gaming major said it would not participate in Nodwin’s upcoming capital raise-backed by existing shareholders-thereby reducing its stake below the 50% mark. This will reclassify Nodwin from a subsidiary to an associate company under Nazara’s portfolio.
More notably, Nazara is also stepping back from certain controlling and restrictive rights it currently holds. This shift, the company said, is designed to empower Nodwin with greater financial and operational freedom as it embarks on its next phase of growth.
“To support Nodwin’s next phase of growth and provide it with the flexibility needed to raise timely funding, the company has decided to waive certain controlling rights it currently holds,” the official statement read.
This change was approved by Nazara’s Board of Directors in a meeting held on July 16 and will now head to shareholders for a vote via a virtual Extraordinary General Meeting (EGM) on August 13, 2025.
While the de-subsidiarisation signals a structural change, it doesn’t signal a breakup. Nazarawill remain Nodwin’s largest shareholder and will enter into definitive agreements-pending shareholder approval-to formalize the new relationship. All disclosures will be made in line with SEBI regulations.
The decision underscores Nazara’s intent to streamline its focus on core gaming IPs while enabling Nodwin—already a frontrunner in India’s esports ecosystem-to unlock fresh capital and chart a more aggressive global expansion.
For India’s rapidly evolving gaming landscape, this marks a significant shift. One where platform independence and capital agility could shape the next wave of growth stories.
