Rekha Jhunjhunwala, the wife and executor of the estate of late investor Rakesh Jhunjhunwala, has sold the entire 5.07% stake in Nazara Technologies, a gaming and esports firm. This move, executed through open market transactions, has coincided with the company's stock reaching a 52-week high, marking a significant moment for both the investor and the company.
According to an exchange filing on Friday, June 13, 2025, the estate offloaded its remaining shares, completing a series of stake reductions over the past few weeks. As of June 6, 2025, the estate held approximately 44,45,120 shares, representing a 5.07% stake in Nazara Technologies. Between June 9 and June 12, 2025, they had already sold 17,21,500 shares (1.9648%). The final sale of 27,23,620 shares on June 13, 2025, resulted in a total change of 5.0734% since the last disclosure. Following these transactions, the estate no longer holds any shares in Nazara Technologies Ltd.
The shares were sold in the price range of Rs 1,225.19-1,225.63 apiece, culminating in an aggregate transaction value of Rs 333.76 crore on Friday alone. Earlier in the month, between June 2 and June 6, Rekha Jhunjhunwala offloaded 17.38 lakh shares at an average price of ₹1,255.4, amounting to approximately ₹218 crore. In total, nearly 2.5 per cent of the company's equity was sold this month, with the average price during this period hovering around INR 1,256 per share, pegging the cumulative transaction value at approximately INR 379.6 crore.
The market responded positively to Nazara Technologies' recent performance. The gaming stock hit a fresh 52-week high of Rs 1,341.80. The company's shares ended at Rs 1,325 on the NSE, gaining by Rs 78.20 or 6.27%. Nazara Technologies shares have outperformed the Nifty, delivering returns of 55% over the past year, compared to Nifty's 6% returns. So far in 2025, the stock has given returns of 31% versus 4% given by the 50-stock index.
Nazara Technologies operates in three primary verticals: gaming, esports, and ad-tech. The company has expanded its presence beyond India into markets such as North America, the Middle East, and Africa. In recent months, Nazara Technologies has made several strategic acquisitions. In January 2025, it acquired two mobile game titles from ZeptoLab for $7.7 million. In May 2025, it acquired UK-based game publisher Curve Games for Rs 247 crore. Additionally, its subsidiary Sportskeeda acquired two wrestling news platforms from Titan Insider Digital in an all-cash transaction valued at Rs 10.5 crore.
The company reported strong financial results for Q4 FY25, with a 90% year-on-year growth in consolidated net profit at Rs 16 crore, compared to Rs 8 crore in the same period last year. Revenue from operations surged 95% to Rs 520 crore, up from Rs 266 crore in the corresponding quarter of the previous financial year. For FY25, Nazara Technologies reported its highest-ever annual EBITDA of Rs 153.5 crore on revenues of Rs 1,624 crores.
Rakesh Jhunjhunwala, who passed away in August 2022, had been an early supporter of Nazara Technologies, holding over a 10% stake as of June 2022. He initially invested Rs 180 crore in the company in 2017. His investment in Nazara Technologies was his only investment in a new-age tech company, setting it apart from his portfolio.
