Billionaire Shiv Nadar, founder of HCL Technologies, has gifted 47 per cent of his stake in HCL Corporation and Vama Delhi to his daughter Roshni Nadar Malhotra as part of a strategic succession plan. India’s India’s third-largest IT service major announced in a regulatory filing to the stock exchanges that Malhotra will acquire control and become a majority shareholder of Vama Delhi and HCL Corp after the transfer of the gift deed and subsequent stake.
HCL Infosystems Ltd also filed a similar stock exchange. With her stakes in Vama Delhi and HCL Corp, Roshni Nadar Malhotra will become the largest shareholder of HCL Infosystems Ltd and HCL Tech. She will also acquire control over the voting rights in relation to the 12.94 per cent stake held by Vama Delhi and 49.94 per cent held by HCL Corp in HCL Infosystems.
Also Read: HCL Tech Q3 Results: Net profit rises 5.5% to ₹4,591 crore, dividend declared; 5 key highlights
Roshni Nadar Malhotra to acquire controlling stake in HCL Tech
In HCL Tech, Malhotra will acquire a 44.17 per cent stake held by Vama Delhi and a 0.17 per cent stake from HCL Corp. The transfer will likely strengthen the Nadar family’s leadership in HCL Technology’s future growth.
“A gift deed dated March 6, 2025, executed by Shiv Nadar in favour of his daughter Roshni Nadar Malhotra for transfer of his 47 per cent shareholding in Vama Sundari Investments (Delhi) Private Ltd (Vama Delhi); and a gift deed dated March 6, 2025 executed by Shiv Nadar in favour of his daughter Roshni Nadar Malhotra for transfer of his 47 per cent shareholding in HCL Corporation Private Ltd (HCL Corp),” said HCL Tech in its exchange filing.
“Gift Deeds have been executed pursuant to a private family arrangement intended to streamline succession, which would ensure continuity of ownership and control by Shiv Nadar Family (promoter family) and would provide desired stability to the company,” said HCL Tech in its filing.
Capital market regulator Securities and Exchange Board of India (SEBI) has granted Malhotra an exemption from making an open offer, facilitating the smooth transfer of shares. Before executing the gift deeds, the father and daughter held 51 per cent and 10.33 per cent shareholdings, respectively, in Vama Delhi and HCL Corp.
“Roshni Nadar Malhotra will acquire control of, and become majority shareholder, of Vama Delhi and HCL Corp, and accordingly will acquire control over the voting rights in relation to the 12.94 per cent stake held by Vama Delhi and 49.94 per cent stake held by HCL Corp in HCL Infosystem,” said the exchange filing.
Malhotra, who holds an undergraduate degree in Communications from Northwestern University and an MBA from the Kellogg School of Management, is the chairperson of HCL Technologies, a multinational IT services and consulting firm. She took over the role at the $12 billion tech giant from her father in July 2020.
Beyond her corporate role, she is involved in philanthropic activities through the Shiv Nadar Foundation, which is focused on education. She has established some of India’s top colleges and schools and is involved in conservation efforts via The Habitats Trust. Shares of HCL Tech settled 1.69 per cent lower at ₹1,558.30 apiece on the BSE. Shares of IT major have declined 18.48 per cent year-to-date (YTD), tracking weak market sentiment.
