Infy’s Narayana Murthy just made his 4-month-old grandson a multi-millionaire
Ekagrah Rohan Murthy holds 15,00,000 shares or 0.04 percent stake in IT major Infosys, as per a filing with the BSE.
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.
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.
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.
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First Published:18 Mar 2024, 02:24 PM IST
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