Infosys founder Narayana Murthy gifts Rs 240 crore worth shares to grandson

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Infosys founder Narayana Murthy gifts Rs 240 crore worth shares to grandson
Infosys founder Narayana Murthy gifts Rs 240 crore worth shares to grandson

Murthy used to possess about 1.51 crore shares, or 0.40 percent of Infosys, India’s second-largest IT services business. However, this off-market transaction has reduced his position to 0.36 percent.

NR Narayana Murthy, the founder of Infosys, gave his grandson Ekagrah Rohan Murty a gift of 15,00,000 shares, or 0.04 percent of the company, valued at about Rs 240 crore, according to an exchange filing. Four-month-old Ekagrah can become India’s youngest millionaire as a result of the share transfer.

Murthy used to possess about 1.51 crore shares, or 0.40 percent of Infosys, India’s second-largest IT services business. However, this off-market transaction has reduced his position to 0.36 percent.

This gift represents the next phase of Infosys’ incredible history. Founded with just $250 in 1981, the company has grown to become one of the most reputable in India. Notably, it has established a new standard for wealth development and corporate governance.

Ekagrah Rohan Murty is the son of Rohan Murty and Aparna Krishnan, and the third grandchild of the Murthy family.

The Sanskrit origin of the name Ekagrah represents steadfast attention and resolve.

Co-founder of Infosys Sudha Murty, who left the Infosys Foundation in December 2021, is still involved in philanthropic work through her family’s foundation.

Not too long ago, she took the oath of office as a member of the Rajya Sabha, the upper house of Parliament in India.

While reflecting on a significant milestone during his appearance at the India Today Conclave 2024, Narayana Murthy said, “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.”

As he thought back on his experience, Murthy openly discussed what he saw as his biggest regret. During his speech at the India Today Conclave 2024, he reflected on lost chances and admitted that some bold projects went unchecked while he was in office.

Murthy attributed this to Infosys’s organizational culture, which from the company’s founding placed a high value on an enlightened democratic approach. He didn’t want to call it a regret, but he did acknowledge that following these rules might have resulted in a growth trajectory that was a little more conservative than what could have been achieved by making more daring choices.

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