NODWIN Gaming Appoints Manish Agarwal to Board Ahead of IPO

Image Credit: NODWIN gaming

NODWIN Gaming, a leading name in esports and youth entertainment in India, has taken a smart step to prepare for its public listing. The company has appointed Manish Agarwal, the former CEO of Nazara Technologies as a non-executive director on its board.

This move is clearly designed to give extra strength to the NODWIN Gaming IPO plans that are already in motion.

Manish Agarwal Brings Proven IPO Experience to NODWIN Gaming

Manish Agarwal knows exactly what it takes to guide a gaming company through a successful public listing. He served as CEO of Nazara Technologies for seven years and played a key role in taking that company public in 2021. During his time there, he also helped Nazara invest in NODWIN Gaming early on and supported its growth.

In his own words, Agarwal said he has watched NODWIN’s journey “from its early stages to becoming a leading force in youth culture and gaming.” He is excited to help the company build “a globally relevant and institutionally strong platform” as it heads toward public markets.

This appointment is not happening in isolation. In the past few weeks, NODWIN has also brought back its former CEO Sidharth Kedia as chief strategy and investments officer and added Arnd Benninghoff from Modern Times Group to the board. These changes show the company is deliberately building a strong leadership team that investors can trust.

How This Appointment Boosts the NODWIN Gaming IPO Plans?

The timing makes perfect sense. NODWIN Gaming is actively preparing for its NODWIN Gaming IPO, expected in the next two to three years. The company has already started a pre-IPO fundraising round aiming to raise more than $100 million (roughly ₹830 crore).

Part of this money will come from existing investors selling small portions of their shares, but no one is making a full exit, a positive sign that everyone still believes in the long-term story.

NODWIN has impressive numbers to show potential investors. In the financial year 2025, the company earned ₹524 crore in revenue, growing at more than 50% per year since 2018.

In the first nine months of the current financial year (2026), revenue crossed ₹530 crore while the business stayed profitable in its core operations. The company expects to finish the full year 2026 with around ₹700 crore in revenue.

Co-founder and Managing Director Akshat Rathee explained that Manish Agarwal “is the leader who took Nazara public and created immense shareholder value.” Bringing him on board sends a clear message: NODWIN is serious about strong governance, clear strategy, and delivering results that public market investors expect.

What This Means for Investors and Industry Watchers?

For everyday investors, this appointment removes some uncertainty. Taking a company public is a complex process that involves strict rules, clear financial reporting, and building confidence with large funds and retail shareholders. Having someone who has already done it successfully at Nazara gives NODWIN a big advantage.

NODWIN is also shifting its focus slightly. It started as a pure esports and gaming platform but is now growing into a broader youth entertainment and media brand. The new leadership team, including Agarwal, will help the company expand its content, events, and monetization methods in a disciplined way without rushing into risky international moves.

The gaming and esports sector in India continues to grow rapidly, and NODWIN has positioned itself as one of the strongest independent players after separating from Nazara last year. With healthy revenue growth, profitable operations, and now a board that includes proven public-market experts, the company looks ready to attract serious investor interest when it eventually lists.

This latest move is another clear signal that the NODWIN Gaming IPO is moving forward with purpose. Investors and industry followers should keep a close watch, the next few quarters of fundraising and strategic updates could reveal even more about how big this public listing might become.

Sources: Inc42 coverage of the board appointment and Economic Times report on IPO preparations.