Nazara Technologies Shares Plunge 17.52% as Moonshine Suspends Real-Money Gaming

Shares of

echnologies, a leading Indian gaming and entertainment company, plummeted 17.52% over three consecutive trading sessions following a significant announcement from its associate firm, Moonshine Technologies Pvt Ltd. The sharp decline comes after Moonshine, which operates the popular online gaming platform PokerBaazi, suspended its real-money gaming offerings in response to the recently passed Promotion and Regulation of Online Gaming Bill, 2025. In a regulatory filing on Friday, Nazara Technologies disclosed that Moonshine Technologies, in which it holds a 46.07% stake, has ceased its real-money online gaming operations as a precautionary measure. The decision aligns with the government's mandate outlined in the new legislation, which was passed by the Indian Parliament on August 21, 2025, and is awaiting final enactment. “Pursuant to the Promotion and Regulation of Online Gaming Bill, 2025, passed by the Parliament on August 21, 2025, and pending enactment, we wish to inform that, as a matter of abundant caution and in due respect of the government's mandate, Moonshine Technologies Private Limited, an associate company in which Nazara Technologies Limited holds a 46.07 per cent stake, has ceased offering real money online gaming operations,” the filing stated.