BENGALURU: Infosys co-founder and former CEO SD Shibulal said on Saturday that he and his family have sold 8.5 million shares of the company over the last three sessions between July 22 and 24 on the stock exchanges, representing 0.2% of the paid-up equity share capital.
The total value of the transactions translate to over Rs 786 crore. The sale was executed by Citigroup Global Markets India as the sole broker. The market capitalisation of Infosys on Friday stood at Rs 3,92,962.68 crore. “Over the last three days (July 22-24), the family members have sold a portion of their holding in Infosys Ltd on the stock exchanges.
Proceeds from the partial stake monetisation will be utilised for a combination of philanthropic and investment activities,” a statement from Shibulal’s family office said. As of June 30 this year, S D Shibulal held 17.6 lakh shares (0.04 per cent stake in Infosys).
Shibulal’s son held 1.8 cr Infy shares till June
SHIBULAL’s wife Kumari Shibulal owned 1.04 crore shares (0.25 per cent), son Shreyas Shibulal had 1.80 crore shares (0.66 per cent) and daughter Shruti Shibulal had 27.37 lakh shares (0.06 per cent).
Shibulal’s grandson Milan Manchanda held 1.54 crore equity shares (0.36 per cent), son-in-law Gaurav Manchanda had 1.55 crore paid-up equity shares (0.36 per cent) and daughter-in-law Bhairavi Madhusudan Shibulal held 63.34 lakh shares (0.15 per cent) stake in the IT company, as per a statement showing shareholder pattern of the Promoter and Promoter group of Infosys on the Bombay Stock Exchange.
Shibulal co-founded Infosys in 1981 along with N R Narayana Murthy and five others. After stepping down as the Chief Executive Officer (CEO) in 2014, Shibulal co-founded Axxilor ventures with Kris Gopalakishnan, a firm that invests in deep tech startups.