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Tuesday, May 28, 2024

Narayana Murthy Gifts ₹240 Crore Infosys Shares to Grandson

N R Narayana Murthy, the co-founder of Infosys, has given shares valued at over Rs 240 crore to his four-month-old grandson, Ekagrah Rohan Murty, potentially making him India’s youngest millionaire, according to a filing by the company on the exchanges.

The exchange filing revealed that Ekagrah now owns 1,500,000 shares, equivalent to a 0.04 per cent stake, in India’s second-largest information technology services company.

Following this transfer, Narayana Murthy’s own stake in Infosys has declined to 0.36 per cent from 0.40 per cent. The transaction was conducted “off-market” on March 15.
Sudha Murty, who was recently sworn in as a Rajya Sabha Member of Parliament, holds a 0.83 per cent stake in Infosys, valued at approximately Rs 5,600 crore at current market prices. She previously shared how she provided Narayana Murthy with Rs 10,000 as seed capital to establish Infosys, choosing to retain only Rs 250 from her own savings due to perceived risk stemming from his prior business endeavours.

According to corporate shareholdings disclosed for December 31, 2023, Narayana Murthy publicly holds shares in four companies with a combined net worth exceeding Rs 2,879.1 crore.

Narayana Murthy and Sudha Murty’s son Rohan Murthy and daughter-in-law Aparna Krishnan welcomed a baby boy in November 2023. Ekagrah is the third grandchild for the Murtys, who are also grandparents to the two daughters born to their daughter Akshata Murty.

The newborn was named Ekagrah, derived from the Sanskrit word meaning unwavering focus and determination.

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(Source: Business Standard)

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