Star investor Rekha Jhunjhunwala offloaded her entire stake in Nazara Technologies in June, well before the government's Online Gaming Bill led to a sharp selloff in the stock. The decision shielded her portfolio from losses of over Rs 334 crore as the company's shares tumbled nearly 18% in the past week.
The Online Gaming Bill, 2025, approved by President Droupadi Murmu on Friday, bans all real-money online games. The law has forced platforms like Dream11, WinZo, and PokerBaazi (backed by Nazara Tech) to halt cash play, sending gaming stocks into a tailspin.
In March, Ms Jhunjhunwala held a 7.06% stake in Nazara Technologies, amounting to 61.8 lakh shares. On June 13, she sold her entire holding, 13 lakh shares on the BSE and 14.2 lakh shares on the NSE, at an average price of around Rs 1,225 per share. The transaction was valued at close to Rs 334 crore, according to bulk deal data from both exchanges.
The complete divestment was also the end of late Rakesh Jhunjhunwala's association with the company. The "Big Bull" once owned 10.82% of Nazara, a stake inherited by his wife Rekha after his passing.
Following the approval of the bill, Nazara's shares have lost 17.58% in the last five trading sessions and over 19% in the past month. The stock closed 4.13% lower at Rs 1,155.75 on Friday, compared to Rs 1,205.60 in the previous session.
Other marquee investors have chosen to stay invested despite the regulatory uncertainty. Investor Madhusudan Kela continues to hold 10.96 lakh shares (1.18%), while Zerodha co-founder Nikhil Kamath, through Kamath Associates, owns 15.04 lakh shares (1.62%).
According to Trendlyne data, Rekha Jhunjhunwala continues to remain one of India's most prominent investors, with publicly disclosed holdings across 25 companies worth nearly Rs 38,918 crore.
Nazara shares, despite the current turbulence, have delivered strong long-term returns, gaining over 37% in the past five years and nearly 22% in the last one year.
