Nayyar sold a total of 1,50,000 shares of the company yesterday on the NSE in two tranches for Rs 9,47,07,858.75, the Mumbai-based firm said in a BSE filing.
Post the sale, he holds 1,820,268 shares or 0.19 per cent stake in the company, it added.
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Nayyar has previously served as the Managing Director of HCL Corporation and Vice Chairman of HCL Technologies. He was also co-founder and Chief Executive Officer of HCL Perot Systems.
Tech Mahindra shares were trading 0.72 per cent up at Rs 634 apiece during afternoon session on the BSE.