Nazara subsidiary signs franchise deal for Indian Pickleball League Mumbai team

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NAZARA · price

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Price reactionminutes from the announcement price · days from the prior close

+0.8%Reaction day

₹255.50

prior close

₹252.30

announcement price

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Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+0.9%-0.1% vs market

Entertainment peers, median of 50sector · industry level+0.4%+0.4% vs sector

On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and 0.4 pts more than its Entertainment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Nazara's wholly-owned subsidiary Absolute Sports has signed a franchise agreement with PWR Indian League and Tour Private Limited to operate a Mumbai team in the Indian Pickleball League, backed by The Times Group. The annual non-refundable franchise fee is up to Rs 5 crore with 8% yearly escalation. This marks Nazara's entry into the fast-growing pickleball segment. Not a related party transaction.

Likely market impact

Signals Nazara's expansion into fast-growing pickleball via its sports subsidiary. Modest size at about Rs 5 crore annual fee, limited near-term financial impact.