Rekha Jhunjhunwala Exits This Gaming Company in June with Rs 334 Crore Stake Sale Before Regulation of Online Gaming Bill

DSIJ Intelligence-2 / 23 Aug 2025/ Categories: Mindshare, Trending

Madhusudan Kela continues to own 10.96 lakh shares, or 1.18 per cent, while Nikhil Kamath, through Kamath Associates, holds 15.04 lakh shares, or 1.62 per cent.

Star investor Rekha Jhunjhunwala exited her entire stake in Nazara Technologies in June 2025, just months before the government’s ban on online gaming triggered a sharp decline in the stock. The move, which appears well-timed, contrasts with the investment stance of Nikhil Kamath and Madhusudan Kela, who continue to hold their positions.

By March 2025, Rekha Jhunjhunwala held a 7.06 per cent stake in Nazara, amounting to 61.8 lakh shares. On June 13, she sold her full holding, including 13 lakh shares on the BSE and 14 lakh shares on the NSE, at an average price of around Rs 1,225 per share. The total transaction value was nearly Rs 334 crore. This marked the complete exit of the late Rakesh Jhunjhunwala’s 10.82 per cent holding in the company, which she had inherited.

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In contrast, other marquee investors have not exited. Madhusudan Kela continues to own 10.96 lakh shares, or 1.18 per cent, while Nikhil Kamath, through Kamath Associates, holds 15.04 lakh shares, or 1.62 per cent. Their decision to remain invested has come despite regulatory turbulence linked to Nazara’s exposure to Moonshine Technology (PokerBaazi).

Nazara Technologies also issued a clarification that it has no direct exposure to real money gaming (RMG) and that Moonshine’s revenue is not consolidated into its financials. The company further highlighted that RMG contributed nothing to its Q1 FY26 revenues and it does not anticipate any material impact on its reported revenue or EBITDA.

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Still, the sharp market reaction underlines investor concerns about companies linked to RMG. Against this backdrop, Rekha Jhunjhunwala’s early exit highlights the wisdom of ace investors, showing how timely decisions can shield portfolios from sudden volatility. She remains one of India’s most prominent investors with publicly disclosed holdings in 25 stocks, valued at nearly Rs 38,918 crore, according to Trendlyne data.

Disclaimer: The article is for informational purposes only and not investment advice.