India, Aug. 21 -- 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 Nitish Mittersain told Bloomberg over the phone on 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.

"It's still early days, and I'll have to sit with my auditors, but we tend to be conservative in our accounting," Mittersain said.

Nazara Technologies owns a 46.1% stake in Moonshine Technologies Pvt. Ltd., which operates the poker platform....