From Nazara to NODWIN: Manish Agarwal Joins the Board as Gaming Firm Eyes Public Listing

Esports and youth entertainment company NODWIN Gaming has appointed Manish Agarwal as a non-executive director, bringing on board the man widely credited with taking Nazara Technologies public. The appointment comes as NODWIN itself is accelerating preparations for its own stock market listing.

The appointment signals a deliberate shift in NODWIN's boardroom strategy. With an IPO targeted within the next two to three years and a pre-IPO fundraise of over $100 million already underway, the company is assembling the kind of institutional leadership and governance framework that public markets demand.

Long-Time Partner Steps Into Formal Role

Agarwal is not new to NODWIN's story. He has been associated with the company since its early days, having led Nazara Technologies' investment into the gaming firm, a relationship that gave him an intimate understanding of its evolution, strategic direction and place within India's fast-growing gaming ecosystem.

His transition from investor-ally to board member marks what the company describes as a natural progression at a pivotal moment.

"Manish has been a long-time partner in NODWIN's journey, from leading Nazara Technologies' investment into the company to now joining our board at a crucial inflection point," said Akshat Rathee, Managing Director and Co-Founder of NODWIN Gaming.

Rathee noted that Agarwal brings a combination of entrepreneurial vision and public market experience that is particularly valuable at this stage, and that his guidance will support both the company's pre-IPO plans and its long-term value creation for stakeholders.

In his new role, Agarwal will work alongside the board and leadership team on governance, strategic oversight and the long-term institutional capabilities that NODWIN will need as it expands across markets and moves closer to a public listing.

The Man Who Took Nazara Public

Agarwal's appointment carries weight beyond his history with NODWIN. As the executive who steered Nazara Technologies through its IPO—the first Indian mobile gaming company to go public—he brings a rare and directly relevant playbook to the table. "He is the leader who took Nazara public and created immense shareholder value, and brings that same mindset as we prepare for our own public market journey," Rathee added.

Agarwal himself expressed enthusiasm about the role. "Having seen NODWIN's journey from its early stages to becoming a leading force in youth culture and gaming, it has been exciting to watch its evolution," he said. "As the company now prepares for its next phase, including its path towards public markets, I look forward to contributing to building a globally relevant and institutionally strong platform."

Beyond his association with NODWIN, Agarwal is currently co-founder of KGeN, or Kratos Gamer Network, a platform that builds verified human distribution networks by organising micro-communities across the Global South to drive engagement and commerce. He is also the founder of Humyn Labs, a venture that works with frontier technology firms to convert signals from real-world communities into structured human intelligence systems for artificial intelligence applications.

Agarwal's appointment is one piece of a larger strategic mobilisation at NODWIN. Earlier this month, the company brought back its former CEO Sidharth Kedia as its new chief strategy and investments officer. Kedia will now lead strategy, capital planning and mergers and acquisitions.

The firm has also added Modern Times Group (MTG) executive vice president of gaming, Arnd Benninghoff, to its board and launched a $100 million pre-IPO fundraise.