Shiv Nadar, founder of HCL, has gifted a 47 per cent of his stake in HCL Corp and Vama Delhi to his daughter Roshni Nadar Malhotra as part of a strategic succession plan.
After the transfer, Malhotra will acquire control and become a majority shareholder of Vama Delhi and HCL Corp, HCLTech said in a stock exchange filing. HCL Infosystems also made a similar filing.
By virtue of her stakes in Vama Delhi and HCL Corp, she will become the largest shareholder of HCL Infosystems Ltd and HCL Tech.
She will also acquire control over the voting rights of the 12.94 per cent stake held by Vama Delhi and 49.94 per cent held by HCL Corp in HCL Infosystems. In HCL Tech, she will acquire a 44.17 per cent stake held by Vama Delhi and a 0.17 per cent stake from HCL Corp.
“A gift deed dated March 6, 2025, executed by Shiv Nadar in favour of his daughter Roshni Nadar Malhotra for transfer of his 47 per cent shareholding in Vama Sundari Investments (Delhi); and a gift deed dated March 6, 2025 executed by Shiv Nadar in favour of Roshni for transfer of his 47 per cent shareholding in HCL Corporation,” the filing said.
The transfer is expected to strengthen the family’s leadership in HCL’s future growth.
“Gift deeds have been executed under a private family arrangement intended to streamline succession, which would ensure continuity of ownership and control by the Shiv Nadar Family (promoter family) and would provide desired stability to the company,” the filings said.
PTI