1 / 9A strategic succession move | Before the transfer, Shiv Nadar owned 51% of HCL Corporation and Vama Delhi. The shift was executed through a private family arrangement to ensure continuity in ownership and leadership. An exchange filing confirmed, “Gift Deeds have been executed pursuant to a private family arrangement intended to streamline succession, which would ensure continuity of ownership and control by Mr Shiv Nadar Family (promoter family) and would provide desired stability to the company.”
2 / 9Shiv Nadar, a pioneer in India’s IT industry and a Padma Bhushan awardee, has been instrumental in shaping HCL’s legacy. His wife, Kiran Nadar, is a well-known philanthropist, art collector and the founder of the Kiran Nadar Museum of Art. She is also an accomplished contract bridge player, having secured a bronze medal at the 2018 Asian Games.
3 / 9Leading HCL into the future | Roshni Nadar Malhotra, the only child of Shiv Nadar, stepped into the role of HCL Technologies’ chairperson in July 2020. She also leads the philanthropic efforts of the Shiv Nadar Foundation, which focuses on education and social development.
4 / 9Founded in 1976, HCL played a critical role in shaping India’s IT landscape. Now, with the stake transfer, Roshni has become the majority shareholder of HCL Corp and Vama Delhi, key promoter entities of HCLTech and HCL Infosystems. The move grants her voting rights over HCL Corp’s 49.94% stake in HCL Infosystems and Vama Delhi’s 12.94% stake in the company.
5 / 9A global education and strategic network | Born in 1982 in New Delhi, Roshni studied at Vasant Valley School before pursuing higher education in the United States. She holds a degree in communications with a focus on radio, television and film from Northwestern University and an MBA from the Kellogg School of Management, specialising in social enterprise management and strategy.
6 / 9Her global affiliations include serving on the dean’s advisory council at the MIT School of Engineering, the executive board for Asia at the Kellogg School of Management and the board of the US-India Strategic Partnership Forum (USISPF). She also sits on the global board of The Nature Conservancy (TNC) and serves as an independent director at HDFC Asset Management Company.
7 / 9A family rooted in business and philanthropy | Roshni is married to Shikhar Malhotra, vice chairman of HCL Healthcare. A trained classical musician, she balances her corporate leadership with a personal passion for music. The couple has two sons, Armaan and Jahaan, and she remains committed to the values of responsibility and accountability instilled by her parents.
8 / 9The wealth shift and market impact | With her father’s stake now under her control, Roshni’s net worth has surged, making her India’s third-richest individual. According to the Bloomberg Billionaires – India list, Mukesh Ambani leads with $88.1 billion, followed by Gautam Adani at $68.9 billion. Before the transfer, Shiv Nadar ranked third with a net worth of $35.9 billion, a position now held by Roshni.
9 / 9Vama Sundari Investments currently holds a 44.71% stake in HCLTech, valued at approximately ₹186,782 crore. Among BSE IT firms, Vama Delhi ranks as the second-highest valued promoter stake and ninth among India’s top 30 midcap companies.
