Infosys co-founder Shibulal’s family sells 0.2% stake; earns near Rs 800 crore

Infosys co-founder SD Shibulal on Saturday announced that his family members have sold a small portion of their equity holdings in the company on the stock exchanges over the last three days. This represented approximately 0.2 per cent of the paid-up equity share capital valued at about Rs 786 crore, calculated according to the company’s market capitalisation. According to a statement, the proceeds from the partial stake monetisation will be utilised for a combination of philanthropic and investment activities. The sale was executed by Citigroup Global Markets India Private Limited as the sole broker.

According to the shareholding pattern of the promoter and promoter group on BSE, SD Sibulal held 17.65 lakh shares or 0.4 per cent stake in Infosys as of June 30, 2020. His wife Kumari Shibulal, held 1.04 crore shares or 0.25 per cent stake in the IT company.