Shiv Nadar transfers 47% stake in HCL Corp to daughter
What's the story
Billionaire Shiv Nadar has transferred 47% of his stake in two major promoter companies - HCL Corp and Vama Delhi - to his daughter Roshni Nadar.
The move comes as part of a well-planned succession strategy.
With this, Roshni now owns majority shares in both companies. Previously, Shiv owned 51% and Roshni had 10.33% stakes in both companies.
Transfer details
Transfer executed through gift deeds
The shares were transferred through two separate gift deeds on March 6, 2025.
One deed was for Shiv's 47% shareholding in Vama Sundari Investments (Delhi) Pvt Ltd, and the other was for his stake in HCL Corp, a company he founded in 1991.
Despite the major reshuffle in the promoter entities, Shiv's direct stake in HCL Technologies remains unchanged at 736 shares.
Voting rights
No impact on HCL Technologies' voting rights
The equity share capital of HCL Technologies stays unchanged at ₹5,427.33 crore pre- and post-transaction, indicating no dilution or new share issuance.
The transfer doesn't impact voting rights as it remains within the promoter group.
Roshni becomes the largest shareholder of both HCL Infosystems Ltd and HCL Technologies with her stakes in Vama Delhi and HCL Corp.
She will also control the voting rights on these stakes held by Vama Delhi and HCL Corp in HCL Infosystems.
Leadership role
Roshni's rise to leadership
Roshni, who has been at HCL Technologies's helm since July 2020, now has a prominent seat at the company's table.
An alumna of Northwestern University, she holds an MBA from the Kellogg School of Management.
Under her leadership, HCL Technologies has maintained its growth and expansion into new markets.
This succession move further cements her position as a key player in shaping the future of this $12 billion IT services and consulting giant.