Infosys co-founders Kris Gopalakrishnan and SD Shibulal, sold 75 lakh shares via block deals
Infosys shares slumped over 3 per cent on Thursday following large block deals involving the sale of 75 lakh shares. Infosys co-founders Kris Gopalakrishnan and SD Shibulal, sold 50 lakh and 25 lakh shares via block deals today morning.
The 75 lakh shares, representing 0.3 per cent stake in Infosys, were offered in a price range of Rs 1,149 and Rs 1,178.5.
"The sale has been done to partially monetize their stake, having nurtured the company for more than three decades, for personal reasons including for the betterment of the society through various philanthropic activities," the two founders said in a statement. (Also read: Stake Sale for Personal Reasons: Statement)
Mr Gopalakrishnan and Mr Shibulal, both billionaires, are among the seven founders of Infosys, India's second biggest outsourcer. Mr Gopalakrishnan is the executive vice chairman of Infosys.
Mr Shibulal was the last founder CEO of Infosys. He was succeeded by current CEO Dr Vishal Sikka.
The sharp fall in Infosys shares hit the broader markets too, as Infosys is the most valuable stock in the Nifty blue chip index. Infosys shares closed 3 per cent lower at Rs 1,142 as compared to 0.7 per cent fall in the broader Sensex.
(with inputs from agencies)
The 75 lakh shares, representing 0.3 per cent stake in Infosys, were offered in a price range of Rs 1,149 and Rs 1,178.5.
"The sale has been done to partially monetize their stake, having nurtured the company for more than three decades, for personal reasons including for the betterment of the society through various philanthropic activities," the two founders said in a statement. (Also read: Stake Sale for Personal Reasons: Statement)
Mr Gopalakrishnan and Mr Shibulal, both billionaires, are among the seven founders of Infosys, India's second biggest outsourcer. Mr Gopalakrishnan is the executive vice chairman of Infosys.
Mr Shibulal was the last founder CEO of Infosys. He was succeeded by current CEO Dr Vishal Sikka.
The sharp fall in Infosys shares hit the broader markets too, as Infosys is the most valuable stock in the Nifty blue chip index. Infosys shares closed 3 per cent lower at Rs 1,142 as compared to 0.7 per cent fall in the broader Sensex.
(with inputs from agencies)
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