Shiv Nadar on Promoter Equity Dilution

In March 2025, Nadar transferred a chunk of shares in the investment companies that hold the listed flagship to his daughter Roshni as part of his succession plan — a continuation of the 2020 chairmanship handover that Forbes frames as a multi-stage promoter-equity transfer rather than a single event.

In 1996 Nadar founded SSN College of Engineering in Chennai in his father's name and gifted roughly INR 1 million of HCL shares to the institution, an early instance of transferring promoter equity into a philanthropic trust — a model he would later scale dramatically.

Forbes headlines Nadar's giving as one of India's top philanthropic trajectories — the 2010 sale of HCL shares to fund the Foundation prefigured a decade-plus pattern of treating promoter equity as a renewable source of philanthropic capital.