NODWIN Gaming Eyes IPO, Appoints MTG’s Arnd Benninghoff to Board

NODWIN Gaming is making its biggest moves yet. The Gurugram-based gaming and esports powerhouse has officially kicked off a pre-IPO fundraising round and brought industry heavyweight Arnd Benninghoff — Executive Vice President of Gaming at Modern Times Group (MTG) — onto its Board of Directors. With UBS appointed as lead advisor for both the pre-IPO round and the eventual public listing, NODWIN’s path to becoming a publicly traded company is firmly underway.

NODWIN Gaming IPO Round: Key Details

The fundraising round will combine primary issuance — to fuel global expansion through organic growth and acquisitions — with a secondary sale offering liquidity to existing shareholders. NODWIN’s backers include KRAFTON, Sony Group Corporation, Nazara Technologies, and JetSynthesys.

Why This Is a Landmark Moment for Indian Esports

NODWIN isn’t just going public — it’s going public from a position of real strength. A 42% YoY revenue surge reaching $58.5M in just nine months of FY2026, combined with a return to EBITDA profitability, makes this one of the most credible IPO stories in India’s gaming ecosystem. Benninghoff, who has founded 15 companies and led MTG’s gaming portfolio since 2014, adds serious international weight to the board at exactly the right time.

The company’s recent acquisition of StarLadder — the Ukraine-based organiser behind CS:GO and Dota 2 Majors — signals its ambitions well beyond India. Add to that its long-term marketing partnership with EVO, the world’s most iconic fighting game tournament, and NODWIN is clearly positioning itself as the defining voice of gaming culture across the Global South. Stay updated with the latest gaming industry news on Technosports.

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