A Turning Point for HCL’s Leadership
Shiv Nadar has just shaken up the upper ranks at HCL Technologies. On March 6, 2025, he transferred a hefty 47% of his ownership in HCL Corp and Vama Delhi to his daughter, Roshni Nadar Malhotra. If you’ve followed Indian business dynasties, you’ll know this isn’t a small deal—it cements Roshni as the driving force behind the sprawling HCL empire.
This transfer wasn’t done quietly in a boardroom, but through gift deeds—a move that hints at a careful, deliberate plan to keep HCL’s future steady under family control. Roshni, already the chairperson of HCLTech since 2020, walks away from this transfer as the unmistakable majority shareholder not just in HCL Corp, but also in HCL Infosystems and Vama Delhi. That means she’s now got her hands on the lion’s share of voting power for nearly everything carrying the HCL name.
What Power Looks Like Now
Before this transition, Shiv Nadar owned a 51% slice of both Vama Delhi and HCL Corp. Roshni? She had just over 10%. Now, the numbers look very different: Roshni holds majority stakes—controlling 44.17% in Vama Delhi, 0.17% in HCL Corp, and the largest voting rights in HCL Infosystems. HCL shareholders and employees know what this means: With such a significant stake, she can steer the company, vote on key issues, and set the long-term tone from the top.
Some might wonder about the regulatory side. India’s financial watchdog, the Securities and Exchange Board of India (SEBI), stepped in with an exemption so that the family didn’t have to buy out other shareholders with a mandatory open offer. Moves like this don’t just happen overnight—behind the scenes, there would have been plenty of legal work and forward planning to ensure the process stayed smooth and compliant.
This transfer is about more than numbers. Roshni has spent years preparing, with a solid business background from Northwestern University and an MBA from Kellogg School thrown in for good measure. Since taking over as chairperson, she’s led not only through business strategy but also through HCL’s social responsibility work via the Shiv Nadar Foundation. If you ask people inside the company, they’ll say she’s not just inheriting control—she’s earned it with hands-on leadership and a knack for innovation.
At a time when many big companies are facing succession drama and outside takeovers, the Nadar family seems to be staking their claim for the long haul. By putting Roshni Nadar Malhotra in charge, they’re telegraphing stability to investors, employees, and partners. The handover also sets a new benchmark for smooth succession in Indian corporates, and it’s going to be interesting to watch how Roshni uses her new powers in the coming years—especially as HCL pushes for fresh growth in global tech markets.
