Billionaire Shiv Nadar, founder of HCL, offered 47% of his participation in HCL Corp and Vama Delhi in his daughter, Roshni Nadar Malhotra, in a strategic succession plan.
After the transfer, Malhotra will become the majority shareholder and will take control of the two entities, according to a stock market file by HCLTECH and HCL Infosystems LTD. This decision solidifies its position as the largest shareholder in HCL Infosystems and Hcltech.
As part of the transfer, it will buy control of the vote on the participation of Vama Delhi 12.94% and the participation of HCL of 49.94% in HCL Infosystems. In Hcltech, it will take more than 44.17% participation of Vama Delhi and 0.17% additional from HCL Corp.
The transfer was formalized by two gift acts carried out on March 6, 2025, guaranteeing the continuity of the property within the Nadar family. “The gift acts have been performed in accordance with a private family arrangement intended to rationalize succession, to ensure stability and control of the Shiv Nadar family,” said the documents.
To facilitate the transition, the Indian capital market regulator, the Securities and Exchange Board of India (SEBI), granted Malhotra an exemption from making an open offer.
Before this transfer, Shiv Nadar held a 51% stake in Vama Delhi and HCL Corp, while Malhotra held 10.33%.
Malhotra, who holds a undergraduate diploma of the Northwestern University and an MBA of the Kellogg School of Management, has been president of Hcltech since July 2020. Beyond her corporate role, she is actively involved in the philanthropy through the Shiv Nadar Foundation, which focuses on education and habitats Trust dedicated to conservation.
(With PTI entries)
