Shiv Nadar Transfers 47% Holding to Daughter Roshni, Securing Succession Plan at HCL Tech

HCL Technologies billionaire founder Shiv Nadar has transferred 47% of his holding in HCL Corp and Vama Delhi to his daughter, Roshni Nadar Malhotra, as a strategic succession move. The transfer makes Roshni the majority shareholder and consolidates the Nadar family's control over HCL Tech and HCL Infosystems.

Important facts:

Roshni now holds 57.33% of promoter entities, while Shiv Nadar's holding drops to 4%.

She acquires voting rights on a 44.17% holding in HCL Tech and substantial stakes in HCL Infosystems.

SEBI exempted an open offer, ensuring smooth transfer.

HCL Tech's chairperson since 2020, Roshni Nadar Malhotra, said, "This transition ensures stability and continuity for the company's future growth." In addition to her corporate position, she is a proactive leader of philanthropic endeavors through the Shiv Nadar Foundation and The Habitats Trust.                                                                       
Source: Business Standard, Moneycontrol, Indian Express