Blitz Bureau
Mumbai, March 8 (IANS) In a bid to streamline succession, global technology company HCLTech’s Co-founder Shiv Nadar has gifted 47 per cent shareholding in the company’s promoter firms to his daughter, Roshni Nadar Malhotra.
According to a company stock exchange filing, Nadar is transferring 47 per cent shareholding in Vama Sundari Investments (Delhi) Pvt. (Vama Delhi) and 47 per cent shareholding in HCL Corp.
“A Gift deed dated March 6, 2025 executed by Mr. Shiv Nadar in favour of his daughter Ms. Roshni Nadar Malhotra for transfer of his 47 per cent shareholding in Vama Sundari Investments (Delhi) Private Limited (Vama Delhi),” read the filing.
Also, a “Gift deed dated March 6, 2025 executed by Mr. Shiv Nadar in favour of his daughter Ms. Roshni Nadar Malhotra for transfer of his 47 per cent shareholding in HCL Corporation Private Limited (HCL Corp),” it added.
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,” the exchange filing read.
Prior to execution of the gift deeds, Shiv Nadar and Roshni Nadar Malhotra held 51 per cent and 10.33 per cent shareholding, respectively, in both Vama Delhi and HCL Corp.
Shiv Nadar and Roshni Nadar Malhotra are promoters of the Company and are also the shareholders of Vama Delhi and HCL Corp, which are promoter/promoter group of the Company.
After the transfer, Malhotra will acquire control of and become majority shareholder of Vama Delhi and HCL Corp and accordingly will acquire control over the voting rights in relation to the 44.17 per cent stake held by Vama Delhi and 0.17 per cent stake held by HCL Corp in the company.
Nadar passed the reins to his daughter Roshni Nadar in July 2020, making her the first female chair of an Indian IT company that was listed.
Additionally, Nadar resigned as managing director of HCL Technologies in July 2021. C Vijayakumar, the CEO of HCL Technologies, took over as managing director for a five-year period.
–IANS
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