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Nazara Share Price Today: Shares of Nazara Technologies continued their sharp slide for a second consecutive session on Thursday, wiping out nearly Rs 2,800 crore in market capitalisation, as investor concerns mounted over the implications of the newly passed Online Gaming Bill, 2025.

The stock plunged another 11 per cent to Rs 1,085 apiece during the day, following a 15 per cent drop in the previous session. The combined fall has dragged Nazara’s market value down from Rs 13,150 crore to Rs 10,360 crore, according to reports.

The sell-off came despite the company's assurance that it has no direct exposure to real-money gaming (RMG), which the new legislation seeks to ban entirely in India.

The Promotion and Regulation of Online Gaming Bill, 2025, passed in the Lok Sabha on Wednesday, prohibits all forms of RMG and bans their advertisements. It also talks about jail terms of up to three years and fines of up to Rs 1 crore for individuals or entities offering such services. 

Banks and financial institutions are barred from facilitating transactions for RMG platforms.

The bill's passage has rattled gaming and tech investors, particularly those with interests in or adjacent to the RMG segment.

In response to the market reaction, Nazara Technologies issued a statement stating it does not operate any RMG business directly and hence does not expect any material revenue impact from the legislation.

However, it acknowledged that there is an indirect exposure through its 46.07 per cent stake in Moonshine Technologies Pvt. Ltd., the parent of PokerBaazi, an RMG platform.

“Nazara does not have a majority stake or control in Moonshine Technologies. Therefore, Moonshine’s revenue is not consolidated in Nazara’s financial statements and has no impact on our reported revenue,” the company said.

Nazara has invested Rs 805 crore in Moonshine through a mix of cash and stock, and also holds compulsory convertible shares worth Rs 255 crore in the company.

Despite the steep two-day decline, Nazara shares remain up 11.4 per cent year-to-date, outperforming the Nifty 50’s 6.2 per cent gain. However, Thursday's plunge has spooked investors, raising concerns over regulatory risks and portfolio exposure transparency in the online gaming space.

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Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.