Roshni Nadar Malhotra gets the command of HCL Tech!
Founder and billionaire of the country's leading IT company HCL Technologies, Shiv Nadar has gifted his 47 percent stake in HCL Corp and Vama delhi to his daughter Roshni Nadar Malhotra as his successor. After Shiv Nadar's decision to transfer his stake, Roshni Nadar Malhotra has become the largest shareholder of HCL Technologies.
HCL Tech has given this information in a regulatory filing filed with the stock exchanges. The company said that on march 6, 2025, Shiv Nadar executed two gift deeds in favor of his daughter Roshni Nadar Malhotra. In the first gift deed, Shiv Nadar transferred his 47 percent shareholding in Vama Sundari Investments Private Limited (Vama Delhi) to Roshni Nadar Malhotra as a gift. In the second deed, Shiv Nadar transferred his 47 per cent shareholding in HCL Corporation Private Limited to his daughter.
The filing said that both Shiv Nadar and Roshni Nadar Malhotra are promoters of the company. Also, both are shareholders of Vama delhi and HCL Corporation Private Limited, which is the promoter or promoter group of the company. The filing said, "The gift deed has been executed by the Shiv Nadar family as per a private family arrangement with the objective of streamlining succession, ensuring stability and control. HCL Technologies has nothing to do with this agreement.
To facilitate this change, stock market regulator SEBI has exempted Roshni Nadar Malhotra from making an open offer. Before this transfer, Shiv Nadar held 51 per cent stake in Vama delhi and HCL Corp, while Roshni Nadar Malhotra held 10.33 per cent stake. Roshni Nadar Malhotra has been the chairperson of HCL Tech since July 2020.
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