India’s only listed gaming firm may write down the value of its investment in a popular poker game as a ban on online betting apps looks imminent in the country.

Nazara Technologies Ltd.’s $122 million investment in PokerBaazi stands to be written down or provisioned for now, Chief Executive Officer Nitish Mittersain said in a phone conversation Thursday. The company’s shares pared losses to 1.4% after falling as much as 11% in early Mumbai trade, extending the previous day’s decline.

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