Shiv Nadar Transfers 47% Stake In HCL Corp And Vama Delhi To Daughter Roshni

With her new stakes in Vama Delhi and HCL Corp, Malhotra will become the largest shareholder of both HCL Infosystems Ltd and HCL Tech

The transfer of shares is expected to strengthen the Nadar family's leadership in HCL’s future growth

Source : Shiv Nadar Foundation

Billionaire Shiv Nadar, founder of HCL, has transferred 47 per cent of his stakes in HCL Corp and Vama Delhi to his daughter, Roshni Nadar Malhotra, as part of a strategic succession plan. Following the transfer, Malhotra will take control and become the majority shareholder of both Vama Delhi and HCL Corp, according to a filing by HCLTech with the stock exchange. A similar filing was made by HCL Infosystems Ltd.

With her new stakes in Vama Delhi and HCL Corp, Malhotra will become the largest shareholder of both HCL Infosystems Ltd and HCL Tech. She will also gain control over the voting rights tied to the 12.94 per cent stake held by Vama Delhi and the 49.94 per cent stake held by HCL Corp in HCL Infosystems. In HCL Tech, she will acquire a 44.17 per cent stake from Vama Delhi and a 0.17 per cent stake from HCL Corp.

A Gift

"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 Limited (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 Limited (HCL Corp)," the filing said.

The transfer of shares is expected to strengthen the Nadar family's leadership in HCL’s future growth.

According to the filings, "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."

The Securities and Exchange Board of India (SEBI) has granted Roshni Nadar Malhotra an exemption from making an open offer, allowing for the smooth transfer of shares. Before the gift deeds were executed, Shiv Nadar and Roshni Nadar Malhotra held 51 per cent and 10.33 per cent of the shares in Vama Delhi and HCL Corp, respectively.

Majority Stake

As a result of the transfer, Malhotra will assume control and become the majority shareholder of Vama Delhi and HCL Corp. She will also gain control over the voting rights associated with the 12.94 per cent stake held by Vama Delhi and the 49.94 per cent stake held by HCL Corp in HCL Infosystems. Additionally, in HCL Tech, she will acquire control over the voting rights related to the 44.17 per cent stake held by Vama Delhi and the 0.17 per cent stake held by HCL Corp in the company.

Roshni Nadar Malhotra holds an undergraduate degree in Communications from Northwestern University and an MBA from the Kellogg School of Management. She currently serves as the chairperson of HCLTech, a leading multinational IT services and consulting firm, a role she took on in July 2020, succeeding her father at the $ 12 billion company.

Beyond her corporate responsibilities, she is deeply involved in philanthropic efforts through the Shiv Nadar Foundation, which focuses on education and has established some of India’s top colleges and schools. She is also committed to conservation through her work with The Habitats Trust.