Shiv Nadar transfers 47% of his HCL stake to daughter Roshni Nadar Malhotra
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In a carefully planned succession move, HCL Group founder Shiv Nadar has gifted 47% of his stake in HCL and Vama Sundari Investments (‘Vama Delhi’), the group’s promoter entities, to his daughter, Roshni Nadar Malhotra.
With this transfer, Malhotra solidifies her position as the most influential shareholder in the empire built by her father. The strategic move makes her the largest shareholder of Vama Delhi and HCL Corp, granting her control over voting rights linked to Vama Delhi’s 44.17% stake and HCL Corp’s 0.17% stake in the company. Additionally, she will hold voting rights over Vama Delhi’s 12.94% stake and HCL Corp’s 49.94% stake in HCL Infosystems.
A graduate in communications from Northwestern University and an MBA from the Kellogg School of Management, Malhotra took over as chairperson of HCL Tech in 2020, succeeding her father, and has since led the IT giant.
“A gift deed dated March 6, 2025, was executed by Mr. Shiv Nadar in favour of his daughter, Ms. Roshni Nadar Malhotra, for the transfer of his 47% shareholding in Vama Sundari Investments (Delhi) Private Limited (‘Vama Delhi’). Another gift deed, dated March 6, 2025, was executed for the transfer of his 47% shareholding in HCL Corporation Private Limited (‘HCL Corp’),” the company stated in a stock exchange filing.
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Before executing the gift deeds, Shiv Nadar held a 51% stake in both Vama Delhi and HCL Corp, while Roshni Nadar Malhotra owned 10.33%, the company disclosed.
“Through these gift deeds, Mr. Shiv Nadar has agreed to transfer his 47% shareholding in both Vama Delhi and HCL Corp, the promoter/promoter group of the company, to his daughter, Ms. Roshni Nadar Malhotra. Following this transfer, she will gain control and become the majority shareholder of Vama Delhi and HCL Corp,” the company added.
Recently, the IT giant reported a 5.54% increase in consolidated net profit, reaching ₹4,591 crore for the quarter ending December 2024, compared to ₹4,350 crore in the same period of the previous year. Revenue from operations for the quarter rose 5.07% to ₹29,890 crore, up from ₹28,446 crore in Q3 FY24.
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