Infosys co-founder NR Narayana Murthy has gifted shares worth over Rs 240 crore to his four-month-old grandson, Ekagrah Rohan Murty, the company on Monday announced through an exchange filing.
The gift has granted Ekagrah ownership of 15,00,000 shares, equivalent to a 0.04 percent stake.
This move probably positions Ekagrah as one of India's youngest millionaires, given the substantial stake he now holds in India's second-largest IT services company.
The shares were acquired through an off-market transaction, with the date of acquisition recorded as March 15, 2024.
Details of the Acquisition
The acquisition was announced through a regulatory filing, indicating Ekagrah's becoming a stakeholder in Infosys. Prior to this transaction, Ekagrah did not hold any shares, and after the acquisition, his ownership stands at 0.04 per cent of Infosys' total voting capital.
Impact on Infosys' Shareholding Structure
Following the acquisition, Narayana Murthy's personal stake in Infosys has seen a reduction, now standing at 0.36 per cent from its previous 0.40 per cent.
In November 2023, Narayana Murthy and Sudha Murty became grandparents once again as their son Rohan Murty and daughter-in-law Aparna Krishnan welcomed a baby boy. This newest addition marked the third grandchild for the Murthy family, who also doted on the two daughters of UK PM Rishi Sunak and Akshata Murty.
Infosys Shares
The shares of Infosys on Monday at 2:23 pm IST were at Rs 1,622.40, down by 0.71 per cent.
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