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Infosys founders sell stake worth Rs 862 crore

The sale was executed at an average price of Rs 1,149.45. Infosys shares closed 2.76 per cent down at Rs 1145.95 on the BSE on Thursday.

By: Express News Service | Mumbai |
March 11, 2016 2:16:31 am

Infosys co-founders Gopalakrishnan and S D Shibulal and some of the latter’s family members on Thursday sold 75 lakh equity shares in the company for around Rs 862 crore on exchanges.

The sale was executed at an average price of Rs 1,149.45. Infosys shares closed 2.76 per cent down at Rs 1145.95 on the BSE on Thursday.

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The sale has been done to partially monetize their stake … for personal reasons including for the betterment of the society through various philanthropic activities, the statement said.

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Even after this sale, the founder group will continue to have a substantial shareholding in the company, it said. ENS

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