Infosys co-founder gifts $28Mn shares to infant grandson
NEW DELHI, INDIA — N. R. Narayana Murthy, the co-founder of IT giant Infosys, recently gifted his four-month-old grandson, Ekagrah Rohan Murty, shares within the firm valued at a staggering Rs 240 crore (US$28 million).
This generous gift not only cements Ekagrah’s status as potentially India’s youngest millionaire but also signifies a significant moment in the legacy of one of India’s most illustrious families in the technology sector.
According to a recent filing with the exchanges, Ekagrah now holds 1,500,000 shares in Infosys, translating to a 0.04% stake in the country’s second-largest IT services firm.
This transaction, carried out “off-market” on March 15, has slightly reduced Narayana Murthy’s own stake in the company from 0.40% to 0.36%.
Murthy’s wife, Sudha Murty, maintains a 0.83% stake in Infosys, currently valued at around Rs 5,600 crore (US$674 million).
Her initial investment of Rs 10,000 (US$120) in Infosys, leaving her with just Rs 250 (US$3) from her savings, laid the foundation for what would become a global IT powerhouse. This act of faith and support in Narayana Murthy’s vision has clearly paid dividends, both financially and in the legacy they are building for their family.
As of December 31, 2023, Narayana Murthy’s public holdings in four companies were disclosed to have a combined net worth exceeding Rs 2,879.1 crore (US$346 million).
Infosys recently reported a 7% year-on-year decline in consolidated net profit for the third quarter ending December 31, 2023. Still, the firm bagged US$3.2 billion worth of large deals during the quarter — including an AI deal with Google Cloud and car parts distributor LKQ Europe.
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