Nazara Tech will buy 100% stake in Comic Con India, deal will be for ₹ 55 crore

Nazara Technologies subsidiary NODWIN is about to make a big acquisition. This subsidiary will acquire 100% stake in Comic Con India. The acquisition will be at a valuation of ₹55 crore, which includes a cash and share swap option. The founders of Comic Con India are Jatin Verma and Karan Kalra. Even after the acquisition by NODWIN Gaming, both the founders will continue to run the company.

According to the information received, ₹ 27.44 crore will be paid in cash for this deal. Whereas, the remaining payment of Rs 27.55 crore will be made through share swap. Under this, 172 shares of NODWIN will be issued in exchange for equity shares in Comic Con.

While giving information about this to the exchanges on January 24, Nazara Tech said that this acquisition will be completed in the next 90 days. After completion of the acquisition, Comi Con India will be a 100% subsidiary of NODWIN. Also, this company will be a stepdown subsidiary of Nazara Technologies.

The company said that the acquisition of Comic Con India will diversify NODWIN’s offerings. NODWIN will be able to help in increasing strong IP. The turnover of Comic Con India stands at ₹16.26 crore as of 31 March 2024.