Infosys’ four promoters sell off 32.6 million shares for $1.1 billion

08 Dec 2014

IT outsourcing company Infosys’ promoters N R Narayana Murthy, Nandan Nilekani, K Dinesh and S D Shibulal, along with their families, have reportedly sold off 32.6 million shares , which took place at Rs 1988 each, which represents 4% decline to Friday’s close. Infosys’ shares closed at Rs 2069.70 on Friday. The total worth of founders’ stake that was offered for sale was around $1.1 billion.

The founders and their families held a combined 91.5 million shares, or nearly 8 per cent of Infosys' outstanding shares, according to the company's annual report. Deutsche Bank was the sole book runner of the sale and the books were covered just after the launch. Most of these executives have left the company since Sikka took office in August.

Infosys is a global leader in consulting, technology and outsourcing solutions. The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.

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