Meet Roshni Nadar, HCL founder Shiv Nadar’s daughter, who is now India’s richest woman: Here’s stock exchange filing on the gift deed behind the rise
Roshni Nadar Malhotra, the daughter of HCL founder Shiv Nadar, has ascended to become India’s richest woman and the third-richest individual overall, following a significant succession move within the HCL Group. The transfer of 47% of her father’s stake in HCL Corporation and Vama Sundari Investments (Vama Delhi) has propelled her into billionaire rankings.
Before the transfer, Shiv Nadar owned 51% of both HCL Corporation and Vama Delhi. The stake transfer, formalized through a private family arrangement, ensures the continued ownership and stability of HCL’s leadership under the Nadar family. An exchange filing confirmed that “Gift Deeds have been executed pursuant to a private family arrangement intended to streamline succession, which would ensure continuity of ownership and control by Mr. Shiv Nadar Family (promoter family) and would provide desired stability to the company.”
With her father’s stake now under her control, Roshni’s net worth has surged, making her India’s third-richest individual. According to the Bloomberg Billionaires – India list, Mukesh Ambani leads with $88.1 billion, followed by Gautam Adani at $68.9 billion. Currently, Vama Sundari Investments holds a 44.71% stake in HCLTech, valued at approximately ₹186,782 crore. Among BSE IT firms, Vama Delhi holds the second-highest valued promoter stake and ranks ninth among India’s top 30 midcap companies.
Roshini Nadar’s role in HCL
Roshni Nadar stepped into the role of HCL Technologies’ chairperson in July 2020, following her father’s transition. She also oversees the philanthropic initiatives of the Shiv Nadar Foundation, focusing on education and social development. Under her leadership, HCL, a $12 billion global technology enterprise, is expected to continue expanding its global footprint.
With the stake transfer, Roshni has become the majority shareholder of HCL Corp and Vama Delhi, key promoter entities of HCLTech and HCL Infosystems. This move grants her voting rights over HCL Corp’s 49.94% stake in HCL Infosystems and Vama Delhi’s 12.94% stake in the company.
Roshini Nadar’s education and more
Born in 1982 in New Delhi, Roshni is the only child of Shiv Nadar and Kiran Nadar. She attended Vasant Valley School before earning a degree in Communications from Northwestern University and an MBA from the Kellogg School of Management. Her global affiliations include serving on the Dean’s Advisory Council at the MIT School of Engineering and the Kellogg School of Management Executive Board for Asia. She is also a global board director at The Nature Conservancy (TNC) and an independent director at HDFC Asset Management Company. Roshni Nadar Malhotra is married to Shikhar Malhotra, the vice chairman of HCL Healthcare.
Read the stock exchange filing on the gift deed here
Dear Sir/Madam,
This is to inform you that the Company has received today (March 6, 2025) at 4:06 P.M.(IST) an intimation under Regulation 30A of the SEBI LODR regarding the Gift Deeds executed on March 6, 2025, in respect of inter-se transfer of certain shareholding held by the promoters in the Promoter/Promoter Group entities. The necessary disclosure in terms of Clause 5A of Para A of Part A of Schedule III of the SEBI LODR read with SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, is enclosed herewith as Annexure – I.
| S.No | Particulars | Details |
| 1 | If the listed entity is a party to the agreement details of the counterparties (including name and relationship with the
listed entity) i. details of the counterparties (including name and relationship with the listed entity); |
HCL Technologies Limited (“the Company”) is not a party to the agreements. |
| 2 | If listed entity is not a party to the agreement: i. name of the party entering into such an agreement and the
relationship with the listed entity ii. details of the counterparties to the agreement (including name and relationship with the listed entity) date of entering into the agreement. |
i. A Gift deed dated March 6, 2025 executed by Mr. Shiv Nadar in favour of his daughter Ms. Roshni Nadar Malhotra for transfer of his 47% shareholding in Vama Sundari Investments (Delhi)
Private Limited (“Vama Delhi”); andii. A Gift deed dated March 6, 2025 executed by Mr. Shiv Nadar in favour of his daughter Ms. Roshni Nadar Malhotra for transfer of his 47% shareholding in HCL Corporation Private Limited (“HCL Corp”). (Both gift deed(s) collectively referred to as “Gift Deeds”). Mr. Shiv Nadar and Ms. Roshni Nadar Malhotra are promoters of the Company. Mr. Shiv Nadar and Ms. Roshni Nadar Malhotra are also shareholders of Vama Delhi and HCL Corp, promoter/promoter group of the Company. |
| 3 | Purpose of entering into the agreement | Gift Deeds have been executed pursuant to a private family arrangement intended tostreamline succession, which would ensure continuity of ownership and control by Mr. Shiv Nadar Family (promoter family) and would provide desired stability to the Company. |
| 4 | Shareholding, if any, in the entity with whom the agreement is executed | Mr. Shiv Nadar and Ms. Roshni Nadar Malhotra hold 736 (0.00%) and 696 (0.00%) shares respectively, in the Company. Immediately prior to execution of the Gift Deeds, Mr. Shiv Nadar and Ms. Roshni Nadar Malhotra held 51.00% and 10.33% shareholding respectively, in both Vama Delhi and HCL Corp. |
| 5 | Significant terms of the agreement (in brief) | Mr. Shiv Nadar vide Gift Deeds has agreed to transfer his 47% shareholding in both Vama Delhi and HCL Corp, promoter/promoter group of the Company, in favour of his daughter Ms. Roshni Nadar Malhotra. Consequent to the aforesaid transfer, Ms. Roshni Nadar Malhotra shall acquire control of and become majority shareholder of Vama Delhi and HCL Corp. |
| 6 | Extent and the nature of impact on management or control of the listed entity | Ms. Roshni Nadar Malhotra will acquire control of, and become majority shareholder, of Vama Delhi and HCL Corp, and accordingly will acquire control over the voting rights in relation to the 44.17% stake held by Vama Delhi and 0.17% stake held by HCL Corp in the Company. |
| 7 | Details and quantification of the restriction or liability imposed upon the listed entity. | Not applicable |
| 8 | Whether the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of replationship | Mr. Shiv Nadar and Ms. Roshni Nadar Malhotra are promoters of the Company and are also the shareholders of Vama Delhi and HCL Corp, which are promoter/promoter group of the Company. |
