Rekha Jhunjhunwala's Rs 334 crore exit from Nazara Tech ahead of Online Gaming Bill sparks insider access debate

Rekha Jhunjhunwala, wife of late billionaire investor Rakesh Jhunjhunwala, has exited her entire stake in online gaming firm Nazara Technologies through the family entity Estate of Late Rakesh Jhunjhunwala in June 2025, as per media reports.

The move, which reportedly saved her around Rs 334 crore, came just before the company's shares tumbled over 17.58% in the last five market sessions following concerns over India's latest Online Gaming Bill 2025.

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Bulk deal data from BSE shows the estate sold 13,00,000 shares at an average price of Rs 1,225.19 apiece, while NSE filings revealed another 14,23,620 shares offloaded on June 13, 2025. Post the transactions, Rekha Jhunjhunwala’s ownership dropped to 5.07% or 44,45,120 shares after shedding nearly 2% stake earlier between June 2-6, reports added.

The development has triggered heated debate on social media.

An account named @Stock_marketIND shared the transaction details on August 23, drawing strong reactions.

“Absolutely rich have access n find a way early n it's the harsh reality,” wrote a user named Praveen Kumar.

Another user, Vishan Khadke, echoed similar sentiments, saying, “Not everyone has access to same information. This creates the difference in wealth and its CAGR.”

While many argued that wealthy investors enjoy privileged access, others disagreed.

Vishal Jain, for instance, defended the move, saying it was a matter of "common sense" and not privilege. "It's not about the rich, it was common sense to get out of Nazara Technologies then. I too sold all mine at 1312 after holding for almost a year," he posted.

The X account that first shared the data later clarified that there was no evidence of insider trading and that the sale could well be a case of portfolio rebalancing or caution about upcoming gaming regulations.

Meanwhile, Nazara Technologies' stock closed 4.13% lower at Rs 1,155.75 on Friday, extending its slide from Rs 1,205.60 in the previous session.

The company's shares have declined 19% in the past month, but long-term investors have still seen robust gains - with over 37% returns in the last five years and 21.81% in the past year.

Also Read: Nazara Tech shares slide 8% today after online gaming bill passage