Roshni Nadar Malhotra
Credit: Shiv Nadar Foundation
Roshni Nadar Malhotra, the daughter of Shiv Nadar, founder of HCL Technologies Ltd has become the third-richest Indian, after receiving 47 per cent shareholdings in HCL Corp and Vama Delhi from her father.
Malhotra will become the largest shareholder of HCL Infosystems Ltd and HCL Tech with this move.
In the Bloomberg Billionaires - India list Mukesh Ambani occupies the number one position as the richest Indian with a net worth of $88.1 billion, followed by Gautam Adani at $68.9 billion. With a net worth of $35.9 billion, Shiv Nadar was the third richest Indian, and following the transfer of his stakes his daughter will now occupy this spot. Malhotra will also get voting rights over 12.94 per cent stake held by Vama Delhi and 49.94 per cent held by HCL Corp in HCL Infosystems.
The transfer of stakes was fromalised through a private family arrangement to ensure the continued ownership of the promoter family and stability in HCL's leadership.
"Gift Deeds have been executed pursuant to a private family arrangement intended to streamline succession, which would ensure continuity of ownership and control by Mr Shiv Nadar Family (promoter family) and would provide desired stability to the company," the filing said.
Malhotra, born in 1982, is the only child of Shiv and Kiran Nadar. Padma Bhushan awardee, Shiv Nadar is the founder of HCL which has played a pivotal role in transforming India's IT sector.
Kiran Nadar is an Indian art collector, philanthropist, and founder of the Kiran Nadar Museum of Art. She has won a bronze medal in the 2018 Asian Games for contract bridge according to a report by TOI.
Malhotra holds an undergraduate degree in Communications from Northwestern University and an MBA from the Kellogg School of Management.
She took over as the chairperson of HCL Technologies from her father in 2020.
Malhotra also serves as a member of the Dean's Advisory Council at MIT School of Engineering in the United States. She is also on the Kellogg School of Management Executive Board for Asia, as per the report.
She is also on the board of the US-India Strategic Partnership Forum (USISPF), global board director at The Nature Conservancy and lastly an independent director on the board of HDFC Asset Management Company.
Malhotra, through the Shiv Nadar Foundation, engages in philanthropic activities which focus on education and has established some of India's top colleges and schools.
In 2010, Roshni Nadar married Shikhar Malhotra -- the vice chairman of HCL Healthcare. They have two sons -- Armaan and Jahaan.