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Thursday, April 18 2024

Narayana Murthy Gifts Grandson ₹240 Crore Worth of Infosys Shares

Narayana Murthy on how to build a startup, face uncertainty
Photo Credit : File photo

Renowned Infosys founder NR Narayana Murthy has captured attention by gifting his four-month-old grandson, Ekagrah Rohan Murthy, shares of the company valued at ₹240 crore. This remarkable act, revealed through a filing by Infosys on the exchanges, potentially positions the infant as India’s youngest millionaire.

According to a filing with the BSE, young Ekagrah now possesses 1,500,000 shares, amounting to a 0.04 percent stake in India’s second-largest information technology services company. This transfer of shares, conducted “off-market,” has resulted in a reduction of Murthy’s own stake in Infosys from 0.40 percent to 0.36 percent, totaling more than 1.51 crore shares.

Sudha Murty, recently inaugurated as a Rajya Sabha Member of Parliament, holds a 0.83 percent stake in Infosys, valued at around Rs 5,600 crore based on current market prices. She has previously shared how she contributed Rs 10,000 as seed capital to aid Narayana Murthy in establishing Infosys, retaining only Rs 250 from her personal savings due to concerns about his prior business ventures.

Murthy and author-philanthropist Sudha Murty celebrated the birth of their grandson, born to their son Rohan Murty and wife Aparna Krishnan in November. This newborn marks the third grandchild for the Murthy family, who also have two granddaughters from their daughter Akshata Murty.

The infant was named Ekagrah, derived from Sanskrit meaning unwavering focus and determination, drawing inspiration from Arjuna’s “ekagrah” in the Mahabharata. Narayana Murthy founded Infosys in 1981, and the company was listed on Nasdaq in March 1999, with Murthy expressing in a statement that the Nasdaq listing would help attract the most skilled talent available.

Read Also: 

Sudha Murty Becomes Rajya Sabha MP in Narayana Murthy’s Presence

Narayana Murthy & Akshata Murty Visit Bengaluru’s Iconic Ice Cream Joint


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