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Rekha Jhunjhunwala, wife of late investor Rakesh Jhunjhunwala, sold a total of 29.75 lakh shares of Nazara Technologies in June so far through open market deals.
She sold 13.1 lakh shares between June 2 and 5, 4.3 lakh on June 6, and another 12.4 lakh between June 9 and 10. Following these transactions, her stake in the company has dropped from 7.1% (as of the March quarter) to 3.7%.
Nazara shares closed 0.5% higher today at ₹1,273.85 on the BSE. At this price, the shares sold by Rekha Jhunjhunwala were valued at around ₹379.6 crore.
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In a filing to the exchanges, the company stated that the estate of late Rakesh Jhunjhunwala has sold and gifted a total of 17.2 lakh shares—roughly 2% stake in Nazara—between March 30, 2021, and June 5, 2025.
“On June 6, 2025 they sold further 4.3 Lakh shares or 0.5% thereby resulting in total change of 2.5% since the last disclosure made on March 30, 2021,” the filing read.
Notably, Rakesh Jhunjhunwala had acquired 33.9 lakh shares—or a 10.8% stake—in Nazara Technologies on March 25, 2021. Since then, the stake has gradually declined to 3.7%. This was his only bet on a new-age tech company, with his broader portfolio featuring established names like Tata Communications, Titan Company, Star Health, and Federal Bank.
The stake sale also comes amid a major shift in Nazara’s ownership. Just last month, the Competition Commission of India (CCI) approved a proposal by Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol to acquire a 26% stake in the company. The open offer will involve purchasing 2.4 crore shares at ₹990 each, amounting to ₹2,384.2 crore.
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