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In September 2024, share purchase agreements were executed amongst the Company, PSM Group, Bellerive Capital (BCP) 6, Shells and Shores Consultancy & Holdings LLP, I3 Interactive Inc, Puneet Singh, Navkiran Singh, Avneet Rana, Varun Ganjoo, Anirudh Chaudhry and Gurjeet Karan (collectively referred to as “Sellers”), in relation to the acquisition of remaining 38,073 fully paid-up equity shares of Rs 10/- each of Moonshine Technology, representing 0.96% of the equity share capital, from I3 Interactive Inc, for an aggregate consideration of ~Rs. 15.90 crore.
Nazara Technologies Ltd rose for a third straight session today. The stock is quoting at Rs 1175.1, up 3.12% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.18% on the day, quoting at 24545.25. The Sensex is at 80226.11, up 0.18%. Nazara Technologies Ltd has dropped around 13.66% in last one month.
Meanwhile, Nifty Media index of which Nazara Technologies Ltd is a constituent, has dropped around 0.31% in last one month and is currently quoting at 1606.35, up 0.83% on the day. The volume in the stock stood at 14.37 lakh shares today, compared to the daily average of 25.89 lakh shares in last one month.
The PE of the stock is 229.28 based on TTM earnings ending June 25.
Amid the slide, a domestic brokerage downgraded Nazara to ‘Reduce’ from ‘Add’ and cut its target price to Rs 1,110 from Rs 1,500, flagging the regulatory overhang. The Bill prohibits all real-money games based on skill, chance or both, bars their promotion and advertising, and restricts banks from processing related transactions. Violations could invite up to three years’ imprisonment and fines of Rs 1 crore, with stricter penalties for repeat offenders.
Nazara issued a clarification on 20 August 2025, stressing it has no direct exposure to the RMG space. The company said RMG contributed nil to revenue and EBITDA in Q1 FY26. Its only indirect link is a 46.07% stake in Moonshine Technologies, the operator of PokerBaazi, which is not consolidated in Nazara’s accounts. Nazara also highlighted that Moonshine’s contribution to Q1 profit after tax was negative and that the Bill is unlikely to have a material financial impact.
Nazara has so far invested Rs 805 crore in Moonshine via cash and stock, along with Rs 255 crore in compulsory convertible shares, but reiterated that the exposure does not affect its reported results.
Nazara is India’s only publicly listed gaming company with businesses spanning Kiddopia, Animal Jam, World Cricket Championship, Sportskeeda, Curve Games, Fusebox Games, Funky Monkeys, Smaash Entertainment and ad-tech unit Datawrkz. With operations across India, North America and other markets, it is building a global gaming platform with strong IP and publishing capabilities.
On a consolidated basis, Nazara Technologies posted a sharp growth in Q1FY26 with revenues of Rs 498.8 crore (+99% YoY) and EBITDA of Rs 47.4 crore (+90% YoY). The core gaming business achieved a 24.4% EBITDA margin, reflecting strong execution of its IP-led gaming strategy. PAT in Q1FY26 was Rs 51.3 crore, marking a 118% YoY increase and underlining the company’s continued ability to generate sustainable profits even as it invests for growth.
Garware Hi Tech Films Ltd, Lloyds Engineering Works Ltd Partly Paidup, Emami Ltd and Gokaldas Exports Ltd are among the other losers in the BSE's 'A' group today, 25 August 2025.
Nazara Technologies Ltd tumbled 5.55% to Rs 1091.6 at 14:45 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 6.93 lakh shares were traded on the counter so far as against the average daily volumes of 1.33 lakh shares in the past one month.
Garware Hi Tech Films Ltd lost 4.89% to Rs 2839.3. The stock was the second biggest loser in 'A' group.On the BSE, 10247 shares were traded on the counter so far as against the average daily volumes of 7795 shares in the past one month.
Lloyds Engineering Works Ltd Partly Paidup crashed 4.83% to Rs 46.9. The stock was the third biggest loser in 'A' group.On the BSE, 31635 shares were traded on the counter so far as against the average daily volumes of 57639 shares in the past one month.
Emami Ltd fell 4.67% to Rs 583.25. The stock was the fourth biggest loser in 'A' group.On the BSE, 13.83 lakh shares were traded on the counter so far as against the average daily volumes of 30600 shares in the past one month.
Gokaldas Exports Ltd slipped 4.45% to Rs 718.75. The stock was the fifth biggest loser in 'A' group.On the BSE, 28759 shares were traded on the counter so far as against the average daily volumes of 33147 shares in the past one month.
The Bill, which moves next to the Rajya Sabha, imposes a complete ban on real money games based on skill, chance or both. Such games cannot be offered, advertised or promoted, and banks will be barred from processing related payments. Offenders could face up to three years’ imprisonment and fines of Rs 1 crore, with harsher penalties for repeat violations.
In a clarification on Wednesday (20 August 2025), Nazara said it has no direct exposure to the real money gaming (RMG) segment, with RMG contributing nil to revenue and EBITDA in Q1 FY26. Its only indirect exposure is a 46.07% stake in Moonshine Technologies, operator of PokerBaazi, which is not consolidated in Nazara's financial statements. The company said Moonshine's contribution to Q1 profit after tax was negative, and it does not expect any material financial impact from the Bill.
Nazara has invested Rs 805 crore in Moonshine through cash and stock, along with Rs 255 crore in compulsory convertible shares, but reiterated that this stake does not affect its reported results.
In a clarification, the company said it has no direct exposure to real money gaming (RMG) businesses. As per its Q1 FY26 results, the contribution of RMG to revenue and EBITDA was nil.
Nazara's only indirect exposure to the segment is through its 46.07% stake in Moonshine Technologies, which operates PokerBaazi. The company emphasized that since it does not hold a majority stake or exercise control, Moonshine’s revenue is not consolidated in Nazara’s financial statements and has no impact on reported revenue or EBITDA. In fact, the contribution to profit after tax from Moonshine in Q1 was negative.
Nazara further noted that it has invested Rs 805 crore in Moonshine via a mix of cash and stock, along with Rs 255 crore worth of compulsory convertible shares. However, it stressed that it does not expect any material adverse impact on its financial performance from such media reports.
Nazara Technologies is India’s only publicly listed gaming company. Its key businesses include Curve Games, Kiddopia, Animal Jam, Fusebox Games (Love Island, Big Brother), World Cricket Championship and Sportskeeda, along with offline gaming businesses such as Funky Monkeys and Smaash Entertainment. Nazara also operates Datawrkz, a digital ad tech business. With presence in India, North America, and other global markets, Nazara is building a global gaming platform with strong IP, publishing, and operating capabilities.