HCL Technologies’ Shiv Nadar gifts 47% stake to daughter Roshni Nadar in these promoter companies

HCL Group founder Shiv Nadar has gifted 47 percent of his stake in HCL Corp and Vama Delhi, the promoter entities of the group, to his daughter Roshni Nadar Malhotra as part of a well-planned succession strategy. Following the transfer, Malhotra will acquire control and become a majority shareholder of Vama Delhi and HCL Corp, as confirmed in stock exchange filings by the firm.

Before the transaction, the promoter and promoter group collectively held 1,65,03,00,415 equity shares, representing 60.814 percent of HCL Technologies’ total shareholding. While Shiv Nadar did not directly sell any shares in HCL Technologies, he transferred his holdings in two key promoter group entities—HCL Corporation Private Limited and Vama Sundari Investments (Delhi) Private Limited. These entities together accounted for 47 percent of the promoter holdings in HCL Technologies, comprising 0.17 percent in HCL Corporation and 44.17 percent in Vama Sundari Investments.

Inter-Se Transfer via Gift Deed Ensures Seamless Transition

The transfer was executed through an inter-se transfer among promoters in the form of a gift, a common restructuring method within promoter groups. As a result, the total promoter and promoter group shareholding in HCL Technologies remains unchanged at 1,65,03,00,415 equity shares, maintaining the same 60.814 percent stake in the company.

HCL Technologies disclosed that two separate gift deeds were executed on March 6, 2025, by Shiv Nadar in favor of his daughter. One deed transferred 47 percent of his shareholding in Vama Sundari Investments (Delhi) Pvt Ltd (Vama Delhi), while another transferred 47 percent of his stake in HCL Corporation Private Ltd (HCL Corp). Before this transaction, Shiv Nadar held 51 percent and Roshni Nadar Malhotra 10.33 percent in both entities.

Further disclosures show that prior to the transaction, Mr. Shiv Nadar also held a small direct stake of 736 shares in HCL Technologies, which remains unchanged. The major restructuring occurred within the promoter entities, consolidating Roshni Nadar Malhotra’s position as the primary promoter and ensuring the continued stability of the group’s leadership.

No Impact on Voting Rights or Share Capital

The equity share capital of HCL Technologies remains at Rs. 5,42,73,30,192 before and after the transaction, signifying no dilution or new share issuance. The transfer does not affect voting rights as it remains within the promoter group, ensuring continuity in management and governance.

HCL Infosystems also disclosed a similar stock exchange filing, confirming that with this transition, Roshni Nadar Malhotra becomes the largest shareholder of both HCL Infosystems Ltd and HCL Technologies. She will also gain control over the voting rights associated with the 12.94 percent stake held by Vama Delhi and the 49.94 percent held by HCL Corp in HCL Infosystems.

This move marks a strategic succession within the Nadar family, reinforcing Roshni Nadar Malhotra’s leadership in the HCL Group. Since taking over as chairperson of HCL Technologies in July 2020, she has played a pivotal role in steering the $12 billion IT services and consulting giant. An alumna of Northwestern University with an MBA from the Kellogg School of Management, she has been actively involved in shaping the future trajectory of the company.

As this transition ensures the continued stability of HCL Technologies’ leadership, investors and market analysts will be closely monitoring any potential developments in governance and future strategic decisions under Malhotra’s leadership.

Stock Price Trend

HCL Tech has been trading on a flat note on Tuesday, March 11, in an overall weak market. The IT stock has lost over 5 percent in the last 1 year. Moreover, it is down 1.5 percent in March so far, extending losses for the third straight month. It shed almost 9 percent in February and 10 percent in January 2025.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.