The transaction was conducted "off-market".
Infosys co-founder NR Narayana Murthy has hit headlines for gifting company shares worth Rs. 240 Crore (£22 million) to his four-month-old grandson Ekagrah Rohan Murty.
This effectively makes the infant the youngest millionaire in India.
With this unique gift, Ekagrah owns 1.5 million shares in Infosys, which equates to a 0.04% stake in the company.
The transaction was conducted “off-market”.
As a result, Mr Murthy’s Infosys shares dropped from 0.4% to 0.36%
Ekagrah was born in November 2003 to Rohan Murthy and Aparna Krishnan.
NR Narayan and Sudha Murthy are also grandparents to the two daughters of Akshata and UK Prime Minister Rishi Sunak.
Ekagrah’s name was reportedly inspired by Arjun’s character in the Mahabharata.
The Sanskrit word ‘Ekagrah’ means unwavering focus and determination.
Infosys started in 1981 following an Rs. 10,000 (£94) investment. It has since grown into one of India’s biggest companies.
Sudha Murty, a prolific author and philanthropist, played a pivotal role in the early days of Infosys, bootstrapping the company with her meagre savings.
After dedicating over 25 years to leading the Infosys Foundation, she retired from her role in December 2021, continuing her charitable endeavours through her family’s foundation.
Recently, she became a member of Rajya Sabha.
Narayana recently revealed his proudest moment, saying:
“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.
“I think that was, in some sense, we were doing something that had not be done at all by an Indian company.”
On his biggest regret, he explained that while he does not really have any, there were a few bold decisions that were not made by him.
He said: “I don’t know if I have any regrets, because right from day one, we operated as an enlightened democracy.
“There were certain highly daring things that we didn’t do.
“We could have done them if we didn’t operate like a true democracy.
“So to some extent, maybe our growth was somewhat less than what we could have achieved. It’s not a regret, but it’s one.”
In 2023, Mr Murthy sparked a debate when he said young people should work 70 hours a week to help the country’s development.
On a podcast, he said: “India’s work productivity is one of the lowest in the world.
“Unless we improve our work productivity… we will not be able to compete with those countries that have made tremendous progress.
“So, therefore, my request is that our youngsters must say, ‘This is my country. I’d like to work 70 hours a week’.”
His views were criticised, with some questioning whether it would lead to burnout.
Mr Murthy defended his comments and said a lot of “good people” and “NRIs” agreed with his statement.
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