Narayana Murthy’s Grandson Set to Pocket Rs 4.2 Crore
Infosys, the iconic Indian IT giant, made headlines recently with its announcement of a final dividend and a special dividend on April 18. What makes this news even more captivating is the revelation that Narayana Murthy’s five-month-old grandson, Ekagrah Rohan Murty, stands to earn a staggering Rs 4.2 crore from these dividends.
The financial maneuverings of Infosys unfolded alongside its Q4 results disclosure. The Board recommended a final dividend of Rs 20 per equity share for the financial year ending March 31, 2024, along with a special dividend of Rs 8 per equity share.
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To mark the occasion, Infosys declared May 31, 2024, as the record date for the payment of the final and special dividends, with disbursement scheduled for July 1, 2024, as detailed in a filing with the stock exchange.
Ekagrah Murty’s windfall stems from his acquisition of 15 lakh shares, amounting to a 0.04% stake, in Infosys, India’s second-largest IT services company. Considering the overall dividend payout of Rs 28 per share, Ekagrah’s earning potential tallies an impressive Rs 4.2 crore.
This acquisition, however, came at a cost to Narayana Murthy’s overall stake in Infosys, which saw a reduction from 0.40% to 0.36%, equivalent to over 1.51 crore shares. The mode of transaction for Ekagrah’s share acquisition was “off-market.”
Yet, despite the substantial dividend windfall, Ekagrah’s Infosys shares witnessed a decline in value by Rs 30 crore, attributable to a drop in share price from approximately Rs 200 apiece since their acquisition. At the time of reporting on April 19, Infosys shares were trading at Rs 1,402.4 apiece, down 1.2%.
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The narrative of this financial saga finds its origin in November 2023 when Narayana Murthy and his wife, Sudha Murty, celebrated the arrival of their grandson. Rohan Murty, Narayana Murthy’s son, and his wife, Aparna Krishnan, welcomed their first child, adding to the lineage of the Murthy family.
The newborn, Ekagrah Rohan Murty, marks the third grandchild for Narayana Murthy and Sudha Murty, who already share the joy of being grandparents to the two daughters of UK’s First Lady, Akshata Murty.
Despite the personal joy and financial success, Infosys faces challenges in the broader economic landscape. The company forecasted annual revenue below expectations due to global macroeconomic uncertainty impacting client spending on discretionary projects.
For fiscal 2025, Infosys anticipates revenue growth between 1% and 3% in constant currency. In the January-March quarter, Infosys reported a 1.3% increase in revenue to Rs 37,923 crore.
The narrative of Ekagrah Murty’s unexpected windfall amidst Infosys’ financial maneuverings paints a picture of the interplay between personal fortunes and corporate strategies in the dynamic landscape of Indian business.
As the legacy of Narayana Murthy continues to intersect with the trajectory of Infosys, Ekagrah’s sudden entry into the world of finance serves as a reminder of the enduring impact of family ties and financial acumen in shaping the fortunes of India’s corporate elite.