Infosys co-founder SD Shibulal’s family sells 85 lakh shares

Family members of Infosys co-founder SD Shibulal have sold 85 lakh shares of the company worth Rs 777 crore, according to regulatory documents.

A separate statement issued by Shibulal’s family office said the proceeds will be utilised for philanthropic and investment activities.

Shibulal’s son Shreyas sold 40 lakh shares, “representing 0.09 percent of Infosys Ltd by way of sale on the platform of the stock exchange on July 22, 23 and 24, 2020”, as per exchange filing.

He previously held 0.66 percent shares in Infosys and post the transaction, his holding has come down to 0.56 percent, it added.