Infosys founder Narayana Murthy gifts shares worth Rs 240 cr to 4-month-old grandson

Following the transaction, Murthy's own stake in Infosys has decreased from 0.40% to 0.36%.

Bengaluru: Infosys founder N R Narayana Murthy has transferred 15 lakh shares of the tech behemoth to his four-month-old grandson Ekagrah Murty, regulatory filings showed on Monday.

At the day’s closing of Rs 1,602.30 per share, the gift to his grandson is worth around Rs 240 crore, making the toddler India’s youngest millionaire, arguably. 

Filings on the Bombay Stock Exchange’s portal by Infosys showed that Murthy transferred the shares to ‘Master Ekagrah Rohan Murty’ out of his own shareholding of 1.66 crore shares, or 0.4% stake in the company he founded. After the transfer, his stake in Infosys gets reduced to 1.51 crore shares, or a 0.36% stake, valued at around Rs 2,426.8 crore, as of Monday’s market closing.

The shares transferred carry voting rights, and the mode of transfer was an ‘off-market transaction’.

Murthy and his wife Sudha became grandparents again in November when their son Rohan Murty and his wife Aparna Krishnan welcomed the baby boy. Their daughter Akshata, wife of British Prime Minister Rishi Sunak, has two daughters.

Rohan Murty is a junior fellow at the Harvard Society of Fellows. He founded the Murty Classical Library of India and also a company called Soroco, which works in the artificial intelligence sector.

Murthy has served Infosys as chief executive office, director, executive and non-executive chairman and as chairman emeritus, at different points in his storied career.

Just earlier this month, Sudha Murty was nominated as a Member of Parliament to Rajya Sabha for her contribution to the field of social work and education. She has been awarded the Padma Bhushan by the government of India.