Shiv Nadar gifts 47% of his stake in HCL Corp, Vama Delhi to daughter Roshni

HCL Infosystems Ltd also made a similar filing.

Billionaire Shiv Nadar, founder of HCL, has gifted 47 per cent of his stake in HCL Corp and Vama Delhi to his daughter, Roshni Nadar Malhotra, as part of a strategic succession plan.

After the transfer, Malhotra will acquire control and become the majority shareholder of Vama Delhi and HCL Corp, HCLTech said in a stock exchange filing. HCL Infosystems Ltd also made a similar filing. By virtue of her stakes in Vama Delhi and HCL Corp, she 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 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 held by Vama Delhi and a 0.17 per cent stake from HCL Corp.

"A gift deed dated March 6, 2025, was executed by Shiv Nadar in favour of his daughter, Roshni Nadar Malhotra, for the transfer of his 47 per cent shareholding in Vama Sundari Investments (Delhi) Private Limited (Vama Delhi). Another gift deed dated March 6, 2025, was executed by Shiv Nadar in favour of his daughter for the transfer of his 47 per cent shareholding in HCL Corporation Private Limited (HCL Corp)," the filing said.

The transfer is expected to strengthen the family’s leadership in HCL’s future growth. "Gift deeds have been executed pursuant to a private family arrangement intended to streamline succession, ensuring continuity of ownership and control by the Shiv Nadar family (promoter family) and providing desired stability to the company," the filings stated.

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.

Immediately prior to the execution of the gift deeds, Shiv Nadar and Roshni Nadar Malhotra held 51 per cent and 10.33 per cent shareholding, respectively, in Vama Delhi and HCL Corp.

"Roshni Nadar Malhotra will acquire control of, and become the 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 the 49.94 per cent stake held by HCL Corp in HCL Infosystems," the filing added.

In HCL Tech, she will acquire control over the voting rights in relation 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.

Malhotra, who holds an undergraduate degree in Communications from Northwestern University and an MBA from the Kellogg School of Management, is the chairperson of HCLTech, a multinational IT services and consulting firm. She took over the role at the USD 12 billion technology company in July 2020 from her father.

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