India Today Updates

Founder of Infosys Narayana Murthy gives shares valued at Rs 240 crore to his 4-month-old grandson

<p>According to a business filing on the exchanges, Infosys founder Narayana Murthy may have made his four-month-old grandson Ekagrah Rohan Murty the youngest millionaire in India by giving him shares worth over Rs 240 crore.</p>
<p><img decoding=”async” class=”alignnone wp-image-524804″ src=”” alt=” founder of infosys narayana murthy gives shares valued at rs 240 crore to his 4 mo” width=”1036″ height=”778″ title=”Founder of Infosys Narayana Murthy gives shares valued at Rs 240 crore to his 4-month-old grandson 9″></p>
<p>According to the exchange filing, Ekagrah now holds 1,500,000 shares in the second-largest information technology services firm in India, or 0.04 percent of the company.</p>
<p>Murthy’s stake in Infosys decreased to 0.36 percent from 0.40 percent, or more than 1.51 crore shares, after this transaction. The acquisition was made “off-market.”</p>
<p>Recently inducted as a member of the Rajya Sabha, Sudha Murty owns 0.83 percent of Infosys, worth around Rs 5,600 crore at current market levels. She earlier disclosed how she gave Narayana Murthy Rs 10,000 as seed money to start Infosys, only keeping Rs 250 from her own funds since she felt there was danger because of his past business ventures.</p>
<p>Following the birth of their son Rohan Murty and wife Aparna Krishnan’s newborn boy in November, Murthy and novelist and philanthropist Sudha Murty became grandparents. The infant is the third grandchild of the Murthys, who are also the grandparents of Akshata Murty’s two children.</p>
<p>The Sanskrit phrase Ekagrah, which implies steadfast attention and tenacity, was chosen for the baby’s name. It is said that the family was motivated by Arjuna’s “ekagrah” from the Mahabharata.</p>
<p>In 1981, Narayana Murthy established Infosys. When the business went public on the Nasdaq in March 1999, Narayana Murthy remarked in a statement at the time that having the listing would help it draw in the greatest talent.</p>
<p>“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,” was recently highlighted by Narayana Murthy as his happiest experience. I believe that in a way, we were doing something that no Indian firm had ever done before.</p>

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