Shiv Nadar Transfers Stake, Roshni Gains Control

HCL Group founder Shiv Nadar has transferred 47% of his stake in HCL Corp and Vama Sundari Investments to his daughter, Roshni Nadar Malhotra, as part of a strategic succession plan. This transfer makes Roshni the majority shareholder, giving her control over the promoter entities and significant voting rights in HCL Technologies and HCL Infosystems. Malhotra, who became the chairperson of HCL Technologies in 2020, will now oversee strategic decisions for the $12 billion company. This move ensures continuity of ownership and stability within the Nadar family. Shiv Nadar's current net worth stands at $34.4 billion, making him one of the wealthiest individuals in the world. The transfer is a non-commercial transaction within the family, complying with regulatory norms for such internal transfers.