Roshni Nadar Malhotra received 47% stake in HCL Corporation and Vama Sundari Investments (Vama Delhi). After this, Roshni became the third richest woman in India. HCL Group Founder Shiv Nadar has gifted 47% of his stake to his daughter Roshni. According to reports, she will look after the strategic decisions for HCL, a $12 billion technology company, Fortune India reported.
Shiv Nadar held 51% in both Vama Delhi and HCL Corp. before gifting his daughter Roshni a 47% stake. As per the deed, this would ensure the continuity of ownership and control by the Shiv Nadar Family (promoter family) and provide the desired stability to the company.
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Roshni will acquire the control of both entities and become the majority shareholder of Vama Delhi and HCL Corp. She will also gain control over the voting rights linked to Vama Delhi's 44.17% stake and HCL Corp's 0.17% stake in the company.
Nadar passed the reins to his daughter in July 2020, making her the first female chair of a listed Indian IT company. Nadar also resigned as managing director of HCL Technologies in July 2021, following which C Vijayakumar, the CEO of HCL Technologies, took over as managing director for five years.
Who Is Roshni Nadar Malhotra?
According to the website of Shiv Nadar Foundation, Roshni Nadar Malhotra is the Chairperson of HCL Technologies and its CSR Board Committee. She is also a trustee member of the Shiv Nadar Foundation, which is focused on education and has established some of India's top colleges and schools.
Roshni is also a trustee and founder of The Habitats Trust, a foundation working towards protecting habitats and their indigenous species. Prior to joining HCL, she worked as a news producer and graduated with an MBA from Kellogg School of Management. She completed her undergraduate degree in Communications from Northwestern University.