5-month-old grandson of Infosys' Narayana Murthy gets richer by Rs 4.2 crore

  • IANS
  • Stock Market News
5-month-old grandson of Infosys' Narayana Murthy gets richer by Rs 4.2 crore
Credit: © Reuters.

New Delhi, April 19 (IANS) Ekagrah Rohan Murty, the five-month-old grandson of Infosys (NS: INFY ) founder N. R. Narayana Murthy, is set to get richer by at least Rs 4.2 crore as the IT bellwether announced final and special dividends.

The Infosys’ board has recommended a final dividend of Rs 20 per equity share, and a special dividend of Rs 8 per stock for the financial year that ended March 31. The dividend will be paid on July 1.

According to a regulatory filing last month, Narayana Murthy gifted shares worth more than Rs 240 crore to his grandson. Ekagrah Murty received 15 lakh shares, or 0.04 per cent stake, in the IT major.

With the total dividend of Rs 28, Ekagrah Murty is now set to pocket Rs 4.2 crore.

The 77-year-old Infosys founder had gifted shares to his grandson in an off-market transaction.

With this, Narayana Murthy's holding in the company fell to 0.36 per cent, or more than 1.51 crore shares.

In November last year, Narayana Murthy and his wife and now Rajya Sabha MP, Sudha Murty, became grandparents after their son Rohan Murty and wife Aparna Krishnan welcomed a baby boy.

--IANS

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