HCL Founder Shiv Nadar Gifts 47% Stake to Daughter Roshni Nadar Malhotra. Know Key Details

HCL Group Founder Shiv Nadar has given 47% of his stake in HCL Corp and Vama Sundari Investments (Vama Delhi), the group's promoter entity, to his daughter Roshni Nadar Malhotra. With this, Malhotra will be responsible for all strategic decisions for the $12 billion technology company. She will also become majority shareholder of Vama Delhi and HCL Corp. She is also set to hold voting rights over Vama Delhi's 12.94% stake and HCL Corp's 49.94% stake in HCL Infosystems.

An exchange filing, “Gift Deeds have been executed pursuant to a private family arrangement intended to streamline succession, which would ensure continuity of ownership and control by Mr Shiv Nadar Family (promoter family) and would provide desired stability to the company.”

Prior to this arrangement, Shiv Nadar and Roshni Nadar Malhotra held 51% and 10.33% stake in both Vama Delhi and HCL Corp.

As per Fortune India, the company added, “Through these gift deeds, Mr Shiv Nadar has agreed to transfer 47% shareholding in both Vama Delhi and HCL Corp, the promoter/promoter group of the company, to his daughter, Ms Roshni Nadar Malhotra. Following this transfer, she will gain control and become the majority shareholder of Vama Delhi and HCL Corp.”

Who Is Roshni Nadar Malhotra?

Roshni Nadar Malhotra is the Chairperson of HCLTech and the Chairperson of its CSR Board Committee. She also serves as the trustee of the Shiv Nadar Foundation, which is focused on education and has established some of India's top colleges and schools.

Before her stint in HCL, Ms Malhotra worked as a news producer and earned her MBA from the Kellogg School of Management. She earned her undergraduate degree in Communications from Northwestern University.

Notably, she has become the richest woman in India and the third richest individual overall. As per Bloomberg Billionaires, Mukesh Ambani leads with $88.1 billion, followed by Gautam Adani at $68.9 billion. As of now, Vama Sundari Investments holds a 44.71% stake in HCLTech, valued at approximately ₹186,782 crore.