Rishi Sunak’s four-month-old nephew has become a multimillionaire after receiving £22 million worth of shares in Infosys.
Ekagrah Rohan Murthy received a 0.04 per cent stake in the IT firm on Friday, making the infant the firm’s youngest shareholder.
Infosys, which has seen a 50 per cent boost in UK public sector invoices in 2023, was co-founded by the prime minister’s father-in-law, NR Narayana Murthy.
Sunak’s wife’s brother, Rohan Murthy and his wife Aparna Krishnan welcomed a baby boy in November last year.
The baby became an instant millionaire after being handed 1.5 million company shares, transferred through an off-market transaction, according to a stock exchange filing.
Following the transfer, Narayana Murthy’s share in the software service provider firm dipped from 0.4 per cent to 0.36 per cent, totalling 15.1 million shares, reported The Economic Times.
Infosys, which Sunak’s wife Akshata Murty also holds shares in, received £7 million in public sector invoices last year up from £4.7 million in 2022.
Procurement information analysed by data provider Tussell shows the firm received over a quarter of a million pounds from the Government Property Agency (GPA), while a similar amount was received from the Care Quality Commission.
Infosys was also given contracts for “Information Communication Technology” (£1.5 million), “Consultant fees” (£1.1 million) as well as “IT Consultancy” (£868,000) across various levels of government.
In addition to these regular contract wins, the India-based company has also won spots on a number of frameworks in recent years.
Whilst this offers no guarantee of work, it can “give the company an edge in winning contracts in the future” according to Tussell.