India's Nazara Tech set for record 2-day fall
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Nazara Technologies has said that its over ₹800 crore investment in PokerBaazi could face a potential write-off if the proposed online gaming bill moves forward, though its overall earnings will not be impacted.
The digital entertainment company recently clarified media reports concerning the proposed Promotion and Regulation of Online Gaming Bill, 2025, stating that it does not expect any material adverse impact on its financial performance (Revenue or EBITDA).
Shares of Nazara Technologies sharply dropped despite having no direct exposure to real money gaming. The decline follows the passing of the Promotion and Regulation of Online Gaming Bill, 2025, in the Lok Sabha,
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The Union Cabinet has approved the Promotion and Regulation of Online Gaming Bill, 2025, which proposes to ban all pay-to-play online games, including those of skill. The bill will be tabled in the Lo
Nazara Technologies's $122 million investment in PokerBaazi stands to be written down or provisioned for now, CEO Nitish Mittersain says.
Nazara share price experienced a 7% drop in stock price following the proposed online gaming regulations. The stock price crash affected investors like Nikhil Kamath and Madhusudan Kela significantly.