Infosys Co-founder Gifts ₹243 Crore Shareholding to Grandson

18 Mar 2024 , 06:01 PM

Data from the stock markets on Monday shows that NR Narayana Murthy, co-founder of one of India’s biggest software services exporters, gave his grandson Ekagrah Rohan Murty 15 lakh shares, or roughly ₹243 Crore. The shares make about 0.04% of Infosys’ total share capital.

Following this deal, Murthy’s ownership stake in the Bengaluru-based company will drop from 0.40% to 0.36%. As of December 2023, the co-founder of Infosys possessed 16,645,638 equity shares, or 0.45% of the firm.

According to an exchange filing from the information technology services company, the transaction was conducted “off-market”.

On November 10, of last year, Rohan Murthy, the son of Narayana Murthy and Sudha Murty, and his daughter-in-law Aparna Krishnan welcomed a baby boy. The daughters of UK Prime Minister Rishi Sunak and Akshata Murty are Krishna Sunak and Anoushka Sunak, which are the other two granddaughters of Narayana Murthy and Sudha Murty.

In an interview with Shereen Bhan of CNBC-TV18, Narayana Murty claimed that his wife Sudha Murty was “more qualified than all seven of us.” In addition to giving him the ₹10,000 seed funding to launch Infosys, Sudha pushed him to concentrate on the export markets.

Murthy, NS Raghavan, K Dinesh, SD Shibulal, S Gopalakrishnan, Nandan Nilekani, and Ashok Arora founded Infosys. In 1981, the company moved its operations to Pune.

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