March 8, Saturday: In a significant move to streamline succession planning, billionaire Shiv Nadar, the founder of HCL Technologies, has gifted 47% of his shareholdings in HCL Corporation and Vama Sundari Investments (Delhi) Private Limited (Vama Delhi) to his daughter, Roshni Nadar Malhotra. This strategic transfer positions Roshni as the largest shareholder in HCL Infosystems Ltd and HCL Tech, solidifying her role in steering the future of the Nadar family’s business empire.
A Strategic Succession Plan
The transfer, executed through gift deeds dated March 6, 2025, is part of a private family arrangement aimed at ensuring continuity of ownership and control within the Shiv Nadar family. With this move, Roshni Nadar Malhotra will acquire a controlling stake in both Vama Delhi and HCL Corp, granting her majority ownership and voting rights in these entities.
In HCL Tech, Roshni will hold a 44.17% stake through Vama Delhi and an additional 0.17% stake directly from HCL Corp. Similarly, she will gain control over the 12.94% stake held by Vama Delhi and the 49.94% stake held by HCL Corp in HCL Infosystems. This transition not only strengthens the Nadar family’s leadership but also ensures stability and long-term growth for the companies.
Regulatory Approval and Smooth Transition
The Securities and Exchange Board of India (SEBI) has granted Roshni Nadar Malhotra an exemption from making an open offer, facilitating a seamless transfer of shares. Prior to the execution of the gift deeds, Shiv Nadar held a 51% stake in Vama Delhi and HCL Corp, while Roshni held 10.33%. Post-transfer, Roshni will emerge as the majority shareholder, taking the reins of the family’s business interests.
In its regulatory filing, HCL Tech emphasized that the gift deeds were executed to ensure the continuity of ownership and control by the promoter family, providing the desired stability to the company. This move underscores the Nadar family’s commitment to maintaining a strong leadership foundation for their business ventures.
Roshni Nadar Malhotra: A Leader in Her Own Right
Roshni Nadar Malhotra, the chairperson of HCL Technologies, has long been a key figure in the company’s growth and success. Her leadership has been instrumental in driving innovation and expanding HCL’s global footprint. With this transfer, she is poised to play an even more pivotal role in shaping the future of HCL Tech and its associated entities.
The move also highlights the growing trend of family-owned businesses in India transitioning leadership to the next generation, ensuring that legacy and vision are preserved while adapting to modern challenges.
A New Chapter for HCL
As Roshni Nadar Malhotra steps into her new role as the largest shareholder, the focus will be on maintaining HCL’s competitive edge in the global IT services market. The seamless succession plan reflects the Nadar family’s foresight and commitment to sustainable growth, ensuring that HCL continues to thrive under strong and visionary leadership.
This strategic transfer not only marks a new chapter for the Nadar family but also reinforces HCL’s position as a leader in the technology sector, ready to embrace future opportunities with confidence and stability.
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