Rekha Jhunjhunwala, wife and executor of the Estate of Late Rakesh Jhunjhunwala, offloaded the estate’s entire stake in Nazara Technologies via open market transactions on Friday, according to an exchange filing.
The estate held around 44,45,120 shares or a 5.07% stake in the gaming and esports firm, as of June 6, 2025.
“From 9th June 2025 to 12th June 2025, they (The Estate of the Late Rakesh Jhunjhunwala) had sold shares totaling to 17,21,500 shares (i.e 1.9648 per cent) and on 13th June 2025, they sold 27,23,620 shares thereby resulting in a total change of 5.0734% since the last disclosure made,” the filing said.
“As on date there is no shareholding of the Estate of Late Mr Rakesh Jhunjhunwala in Nazara Technologies Ltd.,” it added.
Rekha Jhunjhunwala offloaded 14.23 lakh shares of Nazara Technologies on the NSE, and 13 lakh shares of the company on the BSE on Friday, according to bulk deal data available on the BSE and NSE.
The shares were sold in the price range of Rs 1,225.19-1,225.63 apiece, taking the aggregate transaction value to Rs 333.76 crore.
Details of the buyers of Nazara Technologies shares could not be ascertained on the stock exchanges.
Jhunjhunwala sold 17,38,500 shares (1.98% of total share capital) of Nazara Technologies from June 2 to June 6, 2025.
Rakesh Jhunjhunwala, often referred to as India’s ‘Big Bull’, invested Rs 180 crore in Nazara Technologies back in 2017-18.
The exit is estimated to be at approximately Rs 770 crore, which would translate into four-fold returns for the Estate, according to PTI sources.
Shares of Nazara Technologies closed 6.50% higher at Rs 1,327.80 apiece on the NSE, compared to a 0.68% fall in the benchmark Nifty. The stock has risen 55.86% in the last 12 months and 31.01% on a year-to-date basis.
Out of 10 analysts tracking the company, four have a ‘buy’ rating on the stock, two recommend ‘hold’ and four suggest ‘sell’, according to Bloomberg data. The average of 12-month analysts’ price target implies a potential downside of 12.2%.
(With Inputs From PTI)
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