Shibulal’s family member sells stake in Infosys

According to a statement, the sale was executed by Cholamandalam Securities Limited as the Sole Broker.
Shibulal’s family member sells stake in Infosys

BENGALURU: Infosys co-founder SD Shibulal’s daughter-in-law Bhairavi Madhusudhan Shibulal has sold a portion of her holding in the company on the stock exchanges.

She held 60,21,716 shares, amounting to 0.15% of the total shareholding. In a regulatory filing, she said, “In terms of Regulation 29(2) of the Takeover Regulations, we are hereby informing you about the Sale of 3,61,302 equity shares (representing 0.01%) of Infosys Limited by way of Sale on the platform of the Stock Exchange on 15th May,2024.” Each share is priced at Rs 1,421.4376.

According to a statement, the sale was executed by Cholamandalam Securities Limited as the Sole Broker.

“The co-founders have nurtured the company for over three decades, transforming it into one of the most professionally-run companies in India with a global presence. Proceeds from the partial stake monetization will be utilized for a combination of personal and philanthropic activities,” it added.

In November she sold 10,400 shares. As of March 2024, Shibulal, who was the CEO of the company between 2011 and 2014, holds 52,08,673 shares or 0.14% stake. His wife Kumari Shibulal holds 49,45,935 shares or 0.13% stake in the Bengaluru-based IT company. Earlier in January this year, the co-founder’s family sold over 6.59 lakh shares.

His other family members too hold shares in the company. Nikita Shibulal Manchanda and Milan Shibulal Manchanda hold 0.18% stake each. Shreyas Shibulal holds 0.57%, Shruti Shibulal holds 0.07% and Gaurav Manchanda holds 0.34% stake.

The promoter group of the company holds 14.71% of the total shares.

Promoter holds 14.71%

Shibulal, who was CEO of Infosys between 2011 and 2014, holds 52,08,673 shares or 0.14% stake. Promoter group of the company holds 14.71% of the total shares.

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