Shares of Nazara Technologies tumbled 3.17% in early trade on Friday, dropping ₹38.20 to ₹1,167 on the NSE, after the Rajya Sabha passed the Promotion and Regulation of Online Gaming Bill, 2025. The legislation, which seeks to ban real money games (RMGs), cleared both Houses of Parliament within 72 hours and is now awaiting Presidential assent.
The sharp fall in Nazara’s stock price wiped out significant investor wealth, with the company’s market capitalization standing at ₹107.69 billion. The stock traded in the range of ₹1,145.10 to ₹1,206.30 during the session, compared to the previous close of ₹1,205.20. Over the past year, Nazara shares have moved between ₹834.55 and ₹1,453.
The ban directly impacts the revenue streams of firms operating in the stakes-based pay-to-play gaming model, such as Dream11, MPL, and PokerBaazi. While Nazara does not derive all of its business from RMG, the broader market reaction reflected investor concerns over regulatory risks facing the online gaming sector.
Union IT Minister Ashwini Vaishnaw, speaking in the Upper House, said the move was aimed at protecting families from the harmful effects of online betting, likening it to past action taken against chit funds.
