Narayana Murthy, the co-founder of Infosys, has made a substantial gesture by gifting his four-month-old grandson, Ekagrah Rohan Murty, 15 lakh shares valued at over Rs 240 crore.
In a recent off-market transaction reported in regulatory filings, the 77-year-old transferred the shares to his grandson, representing 0.04 percent of Infosys’ stake, on Friday.
This significant transfer has resulted in a reduction of Narayana Murthy’s stake in Infosys to 0.36 percent.
The closing bell at the Bombay Stock Exchange (BSE) saw Infosys shares settling at Rs 1,602.30 apiece, showcasing a significant financial windfall for Ekagrah Murty, the four-month-old grandson of Infosys co-founder Narayana Murthy. With this, Ekagrah inherits a substantial fortune valued at Rs 2,403,450,000.
Ekagrah, born in Bengaluru on November 10 last year to Rohan Murthy and his wife Aparna Krishnan, stands as the third grandchild of Narayana Murthy and his spouse Sudha Murthy, the latter of whom recently commenced her tenure as a Rajya Sabha MP.
This latest development adds to the family’s already substantial influence in Infosys, as highlighted by their ownership stakes. As of the December quarter, Akshata Murty, another of Narayana Murthy’s children, held a 1.05 percent stake in Infosys, while Sudha Murty possessed 0.93 percent, and Rohan had a 1.64 percent ownership share.
Infosys, founded in 1981 by Narayana Murthy along with six other co-founders, has enjoyed remarkable success over the years, with most of its founding members amassing considerable wealth. Notably, all co-founders, except for Ashok Arora, who left the company in 1989 to settle in the US, have become billionaires.
Reflecting on the company’s journey, Narayana Murthy recently spoke at the India Today Conclave 2024, reminiscing about Infosys’ historic listing on Nasdaq, a significant milestone in the annals of Indian business. Additionally, he praised his wife Sudha Murty, acknowledging her as being “much more qualified” than all other founders of India’s second-largest IT firm.