N R Narayana Murthy, the co-founder of Infosys, has transferred shares worth more than Rs 240 crore to his four-month-old grandson, Ekagrah Rohan Murty, potentially making him India's youngest millionaire, according to a filing by the business on the markets.
According to the exchange filing, Ekagrah now holds 1,500,000 shares, or 0.04 percent, of India's second-largest information technology services company.
Narayana Murthy's stake in Infosys has decreased from 0.40 to 0.36 percent as a result of this transfer. The purchase took place "off-market" on March 15.
Sudha Murty, who was just inducted as a Rajya Sabha Member of Parliament, owns a 0.83 percent interest in Infosys, which is worth almost Rs 5,600 crore at current market values. She previously discussed how she contributed Narayana Murthy with Rs 10,000 as initial capital to start Infosys, keeping only Rs 250 from her own savings owing to perceived risk from his previous business ventures.
Infosys Limited
According to corporate shareholdings revealed for December 31, 2023, Narayana Murthy publicly owns interests in four firms with a total net worth of more than Rs 2,879.1 crore.
In November 2023, Rohan Murthy, son of Narayana Murthy and Sudha Murty, and daughter-in-law Aparna Krishnan welcomed a newborn boy. Ekagrah is the Murtys' third grandchild, and they are also the grandparents of Akshata Murty's two daughters.
The newborn was named Ekagrah, which comes from the Sanskrit phrase for unshakable focus and perseverance.
