NR Narayana Murthy, the founder of Infosys, has gifted shares valued at more than Rs 240 crore to his four-month-old grandson, Ekagrah Rohan Murty.
According to the exchange filing, Ekagrah now holds 15,00,000 shares, equivalent to a 0.04 per cent stake in the company.
After the share transfer, Murthy's ownership stake in Infosys, India's second-largest software services provider, decreased from 0.40 per cent to 0.36 per cent, amounting to nearly 1.51 crore shares.
The Infosys founder became grandparent for the third time when his son Rohan Murty and his wife Aparna Krishnan had a baby boy late last year. Their daughter Akshata Murty is married to UK Prime Minister Rishi Sunak. The couple has two daughters, Anoushka and Krishna.
The IT giant recently came under scrutiny for the elctoral bond case. Infosys donated Rs 1 crore to the Janata Dal (Secular) two months before the 2018 Karnataka elections. The latest data was released on Sunday and includes disclosures regarding the issuance of electoral bonds between 2018 and November 2023.
In Q3FY24, Infosys reported a sequential decrease of 1.7 per cent in its consolidated net profit, amounting to Rs 6,106 crore compared to Rs 6,212 crore reported in Q2FY24. The consolidated revenue witnessed a slight quarterly decline of 0.4 per cent.
On an annual basis, the shares of the IT giant have soared to a modest 14 per cent or 198 points on the National Stock Exchange.
