Synopsis
Shiv Nadar, Co-founder of HCLTech, has transferred 47% of his stake in HCL's promoter firms to his daughter, Roshni Nadar Malhotra. This move is intended to streamline succession and ensure stability in the company’s leadership.Key Takeaways
- Shiv Nadar gifts 47% of shares to daughter.
- Transfer includes Vama Sundari Investments and HCL Corp.
- The move aims to ensure continuity of ownership.
- Roshni Nadar becomes majority shareholder.
- Shiv Nadar previously stepped down as managing director.
Mumbai, March 8 (NationPress) To facilitate a smooth transition of leadership, Shiv Nadar, Co-founder of the global technology firm HCLTech, has handed over 47 percent of his shareholding in the company's promoter entities to his daughter, Roshni Nadar Malhotra.
As per a filing with the stock exchange, Nadar is transferring 47 percent ownership in Vama Sundari Investments (Delhi) Pvt. (Vama Delhi) and 47 percent in HCL Corp.
“A Gift deed dated March 6, 2025, executed by Mr. Shiv Nadar in favor of his daughter Ms. Roshni Nadar Malhotra for the transfer of his 47 percent shareholding in Vama Sundari Investments (Delhi) Private Limited (Vama Delhi),” stated the filing.
Additionally, a “Gift deed dated March 6, 2025, executed by Mr. Shiv Nadar in favor of his daughter Ms. Roshni Nadar Malhotra for the transfer of his 47 percent shareholding in HCL Corporation Private Limited (HCL Corp),” it continued.
The execution of these Gift Deeds is part of a private family arrangement aimed at simplifying succession, “which will guarantee continuity of ownership and control by the Shiv Nadar Family (promoter family) while providing the necessary stability to the company,” the filing mentioned.
Before the execution of the gift deeds, Shiv Nadar and Roshni Nadar Malhotra held 51 percent and 10.33 percent shareholding, respectively, in both Vama Delhi and HCL Corp.
Both Shiv Nadar and Roshni Nadar Malhotra are integral promoters of the Company and also shareholders of Vama Delhi and HCL Corp, which are part of the promoter group of the Company.
Following the transfer, Malhotra will take control and become the majority shareholder of Vama Delhi and HCL Corp, thus gaining control over the voting rights associated with the 44.17 percent stake held by Vama Delhi and 0.17 percent stake held by HCL Corp in the company.
Shiv Nadar passed the leadership to his daughter Roshni Nadar in July 2020, making her the first female chair of an Indian IT firm listed on the stock exchange.
Moreover, Nadar stepped down as managing director of HCL Technologies in July 2021, with C Vijayakumar, the CEO of HCL Technologies, assuming the role of managing director for a five-year term.
