Infosys co-founder NR Narayana Murthy has gifted his four-month-old grandson Ekagrah Rohan Murthy shares of the company worth ₹240 crore, making him possibly the country’s youngest millionaire.
Ekagrah now holds 1,500,000 shares, equivalent to a 0.04% stake in India’s second-largest information technology company, an exchange filing showed.
Also Read | What is Narayana Murthy’s ‘big regret?’ about wife Sudha Murty, having family in business, son Rohan and more
Following this transaction, Murthy’s own stake in the Bengaluru-based company has fallen from 0.40% to 0.36%, representing over 1.51 crore shares. The transfer of shares was conducted “off-market”, the filing added.
The gifting did not go down well with Infosys shareholders, though. Its shares ended at ₹1,601.80 apiece on the National Stock Exchange on Monday, down 2% from Friday’s close.
Narayana Murthy and Sudha Murty’s son Rohan Murthy and his wife Aparna Krishnan announced the arrival of their baby boy in November 2023. The newborn, named Ekagrah, signifies unwavering focus and determination in Sanskrit.
Also Read | Sudha Murty nominated to Rajya Sabha. All you need to know about her
This addition marks the third grandchild for the Murthy family, which also has two grand-daughters born to their daughter Akshata Murty, wife of Britain’s prime minister Rishi Sunak.
As of December 2023, Infosys’ promoter and promoter group owns 54,86,43,979 shares, or 14.78% of Infosys Ltd. Of that, Akshata Murthy, Narayana Murthy’s daughter and the first lady of the UK, owns 3,89,57,096 shares, accounting for 1.05% of the company. The Infosys co-founder’s son Rohan Murty owns 6,08,12,892 shares and wife Sudha N Murty owns 3,45,50,626 shares, which respectively translate to 1.64% and 0.93% of the company.
Sudha Murty was recently nominated to the Rajya Sabha, and took oath on March 14. After taking oath, she said she wants to understand and study the topics she aims to raise in the upper house of parliament.
The President of India nominates 12 members to the Rajya Sabha for a six-year term in recognition of their contribution towards arts, literature, sciences, and social services.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates & Live Business News.
More
Less
Published: 18 Mar 2024, 02:12 PM IST
Ananya Das is your guide to the latest trends, viral sensations, and internet phenomena. Based on a keen understanding of digital culture, Sophie navigates the ever-evolving landscape of trending topics. With an insightful and engaging approach, she explores what’s buzzing across social media platforms, ensuring readers stay in the loop with the most talked-about and shareable content online.
