HCL founder Shiv Nadar gifts 47% stake to daughter

As part of a strategic succession plan, billionaire Shiv Nadar, founder of HCL, on Saturday announced gifting 47 per cent of his stake in HCL Corp and Vama Delhi to his daughter Roshni Nadar Malhotra.

In a stock exchange filing, the companies said after the transfer, Roshni will acquire control and become a majority shareholder of Vama Delhi and HCL Corp, HCLTech, and HCL Infosystems Ltd. It mentioned that by virtue of her stakes in Vama Delhi and HCL Corp, she will become the largest shareholder of HCL Infosystems Ltd and HCL Tech.