Last Updated: March 18, 2024, 15:39 IST
Infosys founder Narayana Murthy has given shares valued at over Rs 240 crore to his 4-month-previous grandson, Ekagrah Rohan Murty, doubtlessly making him India’s youngest millionaire, in keeping with a submitting by the corporate on the exchanges.
The alternate submitting revealed that Ekagrah now owns 1,500,000 shares, equal to a 0.04 per cent stake, in India’s second-largest info expertise providers firm.
Post this acquisition, Murthy’s share in Infosys diminished to 0.36 per cent from 0.40 per cent, or over 1.51 crore shares. The mode of transaction was “off-market.”
Sudha Murty, who was not too long ago sworn in as a Rajya Sabha Member of Parliament, holds a 0.83 per cent stake in Infosys, valued at roughly Rs 5,600 crore at present market costs. She beforehand shared how she offered Narayana Murthy with Rs 10,000 as seed capital to ascertain Infosys, selecting to retain solely Rs 250 from her personal financial savings as a result of perceived threat stemming from his prior enterprise endeavours.
In November, Murthy and creator-philanthropist Sudha Murty grew to become grandparents after their son Rohan Murty and spouse Aparna Krishnan welcomed a child boy. The new child is the third grandchild of the Murthys, who’re grandparents to the 2 daughters of Akshata Murty.
The child was named Ekagrah, a Sanskrit phrase which means unwavering focus and dedication. The household was reportedly impressed by Arjuna’s “ekagrah” within the Mahabharata.
Narayana Murthy based Infosys in 1981. The firm was listed on Nasdaq in March 1999 and in a press release launched on the time, Narayana Murthy had stated that the Nasdaq itemizing would assist the corporate appeal to the very best accessible expertise.
Recently, Narayana Murthy shared this as his proudest second was, “When I sat in front of those scorching lights on a high stool in Nasdaq when we became the first Indian company to be listed on Nasdaq. I think that was, in some sense, we were doing something that had not be done at all by an Indian company.”
