HCL founder Shiv Nadar’s daughter, Roshni Nadar Malhotra, is set to become the third-richest Indian, and the richest Indian woman, after Reliance Industries Chairman Mukesh Ambani and Adani Group’s Gautam Adani, according to data from the Bloomberg Billionaires Index.

On March 6, Shiv Nadar executed two gift deeds in favour of his daughter, transferring his 47% shareholding in Vama Sundari Investments (Delhi) Private Limited and HCL Corporation Private Limited.

The gift deeds are part of the HCL Group’s succession planning, as Nadar hands over majority control to his daughter.

According to the Bloomberg Billionaires Index, Reliance Industries Chairman and Managing Director Mukesh Ambani is currently the richest Indian, with a net worth of $88 billion, followed by Gautam Adani at $68.9 billion. Shiv Nadar, previously third with a total net worth of $35.9 billion, moves down after the transfer.

Prior to this gift, Savitri Jindal was the fifth richest Indian on the Bloomberg Billionaires Index with a net-worth of $30.1 billion. This also made her the richest Indian woman. But with Roshni Nadar Malhotra moving up and taking the place of her father, this pushes her way up, thereby becoming the richest Indian woman.

Late Cyrus Mistry's brother Shapoor Mistry is fourth on the list with $34.5 billion net-worth.

Nadar Malhotra, the chairperson of India's third-largest IT services firm HCL Technologies (HCLTech), will gain control of and become the majority shareholder in Vama Delhi and HCL Corp. Consequently, she will also acquire control over the voting rights related to the 44.17% stake held by Vama Delhi and the 0.17% stake held by HCL Corp in the company.

Prior to the execution of the gift deeds, Shiv Nadar and Roshni Nadar Malhotra held 51% and 10.33% shareholding, respectively, in both Vama Delhi and HCL Corp.

“The gift deeds have been executed as part of a private family arrangement intended to streamline succession, ensuring continuity of ownership and control by the Shiv Nadar family (promoter family) and providing the desired stability to the company,” the company stated.

Nadar Malhotra holds an undergraduate degree in Communications from Northwestern University and an MBA from the Kellogg School of Management. She took over as chairperson of HCL Tech in 2020, succeeding her father, and has since led the IT giant.

Before joining HCL, Nadar Malhotra worked as a producer at Sky News in the UK. She joined HCL Corporation, the holding company of HCL Technologies and HCL Infosystems, in 2009 and was appointed Executive Director and CEO. In 2020, she became the Chairperson of HCL Technologies, succeeding her father.

Under her leadership, HCL acquired seven IBM products for ₹13,740 crore—the largest acquisition in the history of the Noida-based IT services major.

Nadar Malhotra also serves on the board of directors of the US-India Strategic Partnership Forum (USISPF) and is a member of the global board of directors of The Nature Conservancy (TNC). She is also an independent director on the board of HDFC Asset Management Company.

Apart from her corporate leadership, Nadar Malhotra is deeply involved in philanthropy through the Shiv Nadar Foundation, which focuses on education and social impact. She is also a trustee of the foundation and has been instrumental in initiatives like VidyaGyan, a leadership academy for underprivileged students.

Her contributions to business and society have earned her recognition on Fortune India’s Most Powerful Women (MPW) list multiple times.