Narayana Murthy gifts Rs 240 Crore worth of Infosys shares to 4-month-old grandson

Mangalore Today News Network

New Delhi, Mar 18, 2024: NR Narayana Murthy, the renowned founder of Infosys has made headlines by gifting his four-month-old grandson Ekagrah Rohan Murthy, shares of the company valued at ₹240 crore. This extraordinary gesture, as disclosed in a filing by Infosys on the exchanges potentially positions the infant as India’s youngest millionaire.

 

As per a filing with the BSE, young Ekagrah now owns 1,500,000 shares which is equal 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 decrease in Murthy’s own stake in Infosys from 0.40 percent to 0.36 percent, totaling more than 1.51 crore shares.

Recently inaugurated as a Rajya Sabha Member of Parliament, Sudha Murty possesses a 0.83 percent stake in Infosys which is valued at around Rs 5,600 crore based on current market prices. She has previously recounted how she contributed Rs 10,000 as seed capital to assist Narayana Murthy in establishing Infosys, opting to retain only Rs 250 from her personal savings due to concerns regarding his previous business ventures.

Murthy and author-philanthropist Sudha Murty celebrated the arrival 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 which has been derived from Sanskrit meaning unwavering focus and determination. The family drew inspiration from Arjuna’s "ekagrah" in the Mahabharata. Narayana Murthy established Infosys in 1981. The company got listed on Nasdaq in March 1999 with Narayana Murthy expressing in a statement that the Nasdaq listing would aid in attracting the most skilled talent available.

Courtesy: Zee News