New Delhi: In a significant wealth transfer, Infosys founder Narayana Murthy has bestowed upon his four-month-old grandson, Ekagrah Rohan Murty, shares valued at over Rs 240 crore. This endowment, as per the company’s exchange filing, potentially positions Ekagrah as one of India’s youngest millionaires.
Share Distribution Details:
- Ekagrah’s Holdings: The infant now possesses 1,500,000 shares in Infosys, translating to a 0.04% stake in the nation’s second-largest IT services firm.
- Narayana Murthy’s Remaining Stake: Following the transaction, Murthy’s holding in the company has diminished from 0.40% to 0.36%, equating to over 1.51 crore shares. Notably, the shares were transferred through an off-market transaction.
Family’s Infosys Involvement:
- Sudha Murty’s Stake: Sudha Murty, recently inducted as a Rajya Sabha MP, retains a 0.83% stake in Infosys, currently valued at around Rs 5,600 crore. Her initial investment of Rs 10,000 served as the seed capital for Infosys, a testament to her support despite the risks associated with Narayana Murthy’s previous business ventures.
The Murthy Legacy:
- Birth of Ekagrah: In November, the Murthy family celebrated the arrival of Ekagrah, the third grandchild, born to Rohan Murty and Aparna Krishnan. The name ‘Ekagrah’—rooted in Sanskrit, meaning steadfast focus and determination—reflects the family’s admiration for Arjuna’s ‘ekagrah’ in the epic Mahabharata.
- Infosys’ Founding and Growth: Narayana Murthy laid the foundation for Infosys in 1981. The company’s milestone Nasdaq listing in March 1999 marked a pivotal moment, with Murthy highlighting it as a proud achievement, especially as Infosys became the first Indian company to be listed on the prestigious exchange.
Murthy’s Reflections:
- A Proud Moment Recalled: Murthy reminisces about the Nasdaq listing, recalling the intense spotlight and the sense of accomplishment in pioneering a path for Indian companies on the global stage.
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