Hyderabad: Narayana Murthy, the founder of Infosys, has gifted the company's shares worth over Rs 240 crore to his four-month-old grandson, Ekagrah Rohan Murthy.
With this, Ekagrah will probably stand as the youngest millionaire in India. According to a regulatory filing, Narayana Murthy has gifted shares worth more than Rs 240 crore to his grandson.
Ekagrah received 15 lakh shares, or 0.04 percent stake, in Infosys. The 77-year-old Infosys founder gifted shares to his grandson in an off-market transaction. With this, Narayana Murthy’s holding in the IT bellwether fell to 0.36 percent, or more than 1.51 crore shares.
At the price of Rs 1,620 per share on Monday, Ekagrah Murthy received a whopping Rs 243 crore. Narayana Murthy and his wife and now Rajya Sabha MP Sudha Murthy became grandparents in November last year after their son Rohan Murthy and wife Aparna Krishnan welcomed a baby boy. Engineer-turned-philanthropist and author Sudha Murthy took oath as Rajya Sabha MP last week in the presence of her husband.
Born to Rohan Murty and Aparna Krishnan on November 10 in Karnataka's capital Bengaluru, Ekagrah is the third grandchild of Narayana Murthy and Sudha Murthy. Narayana Murthy and Sudha Murthy also have two granddaughters -- Krishna and Anoushkaa Sunak, the daughters of UK Prime Minister Rishi Sunak and Akshata Murty. In terms of Infosys ownership, Akshata holds a 1.05% stake, Sudha owns 0.93%, and Rohan possesses 1.64%, as of the end of the December quarter.
The Murthy family has been constantly in talks for various reasons. From the son-in-law of the family becoming the UK Prime Minister to Narayan Murthy dropping the 70 hours a week work schedule for the youth, and now the share gifting to the grandson, the Murthy family has had it all.
The Infosys founder fell into controversy after he advised the youth of the country to work 70 hours a week in October last year. The appeal faced brickbats from working professionals as well as other CEOs for promoting a lack of work-life balance. A very small mass of people supported the statement while the majority opposed stating mental and physical health.
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