Roshni Nadar Malhotra has emerged as the largest shareholder in HCL following the transfer of a 47% stake from her father, Shiv Nadar, the founder of HCL Group. This transition has also positioned her as the third-richest Indian, according to Bloomberg Billionaires data.
Succession Planning and Business Transition
As part of a structured succession plan, Shiv Nadar gifted 47% of his stake in HCL Corporation and Vama Sundari Investments (Vama Delhi) to his daughter. Once the transfer is complete, Roshni Nadar Malhotra will assume majority control of both entities, which are the primary promoters of HCLTech and HCL Infosystems.
Through this stake transfer, Malhotra will gain significant voting rights, overseeing:
- Vama Delhi’s 12.94% stake in HCL Infosystems
- HCL Corp’s 49.94% stake in HCL Infosystems
- Vama Delhi’s 44.17% stake in HCLTech
- HCL Corp’s 0.17% stake in HCLTech
Impact on India’s Richest Individuals
Following this transition, the Bloomberg Billionaires Index shows that:
- Mukesh Ambani remains the wealthiest Indian with a net worth of $88.1 billion.
- Gautam Adani ranks second with a fortune of $68.9 billion.
- Shiv Nadar, who previously held the third position with $35.9 billion, has now passed that rank to his daughter.
Strategic Importance of the Stake Transfer
An exchange filing described the move as a “private family arrangement” intended to ensure smooth succession and maintain ownership stability within the Nadar family. Before the stake transfer, Shiv Nadar and Roshni Nadar Malhotra held 51% and 10.33% shares, respectively, in both Vama Delhi and HCL Corp.
By transferring 47% of his shareholding in both entities, Nadar has effectively handed over control to Malhotra, making her the majority shareholder in both promoter groups.
HCL’s Leadership Evolution
This is not the first major leadership shift within HCL. In July 2020, Shiv Nadar stepped down as Chairman of HCLTech, appointing his daughter as the first female chairperson of a listed Indian IT company. The following year, in July 2021, he also resigned as Managing Director of HCL Technologies, passing the role to CEO C Vijayakumar for a five-year term.
Who is Roshni Nadar Malhotra?
Roshni Nadar Malhotra is not only the Chairperson of HCLTech but also leads its Corporate Social Responsibility (CSR) Board Committee. She is a key trustee of the Shiv Nadar Foundation, which has played a pivotal role in establishing some of India’s top educational institutions.
Additionally, she is the founder and trustee of The Habitats Trust, an organization dedicated to protecting natural habitats and indigenous species.
Educational and Professional Background
Before joining HCL, Malhotra worked as a news producer. She holds:
- An undergraduate degree in Communications from Northwestern University
- An MBA from the Kellogg School of Management
Conclusion
Roshni Nadar Malhotra’s rise to becoming the largest shareholder of HCL marks a major milestone in the company’s leadership evolution. With this transition, she now holds strategic control over HCL’s future, ensuring continuity in the company’s legacy while contributing to its long-term growth.
