Nodwin sets sights on expanding Comic-Con India to new cities!
What's the story
Comic-Con India, the country's largest pop culture event, is set to expand to more cities. The announcement was made by Nazara Technologies, the parent company behind the convention, per CNBC. The move aims to engage more youth and enhance the scale of the event. To note, Comic-Con India was acquired by Nodwin, a subsidiary of Nazara Technologies, in January 2024 for a whopping ₹55 crore.
Expansion plans
Nazara Tech's focus on youth engagement
Nazara Tech's CEO and Founder, Nitish Mittersain, revealed the expansion plans during the world premiere of the mobile game FAU-G: Domination in Mumbai. He emphasized the company's focus on youth engagement through E-sports and other interests. "The attention of the youth is a very valuable commodity and Nodwin's focus on E-sports and everything else that the youth is interested in becomes very relevant," Mittersain said.
Acquisition details
Comic-Con India's financial performance and acquisition
Comic-Con India, which debuted in the year 2011, was purchased by Nodwin through a mix of cash and share swap. The event's turnover as of March 31, 2023, was ₹16.26 crore. This acquisition is one of three made by Nazara in the last 24 months. Mittersain believes these acquisitions will play a crucial role in the company's future growth and expansion.