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 a 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 49.94 per cent 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, executed by Shiv Nadar in favour of his daughter RoshniNadarMalhotra 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 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, which would ensure continuity ofownership and controlby Shiv Nadar Family (promoter family) and would provide desired stability to the company,” the filings said. 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, the father and daughterheld 51percent and 10.33percent shareholding, respectively, in Vama Delhi and HCL Corp. “RoshniNadarMalhotra 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 byVama Delhi and 49.94 per cent stake held by HCL Corp in HCL Infosystem,” according to the filing.

 

In HCL Tech, she will acquire control over the voting rights inrelation 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 ofManagement,is the chairperson forHCLTech,amultinational ITservices and consulting firm. She had takenover the role at the USD 12 billion technology company in July 2020 from her father. Beyond hercorporaterole, sheisinvolved in philanthropic activities through the Shiv NadarFoundation,whichis focusedon education and has established some of India’s top colleges and schools, and conservation efforts via The Habitats Trust.