Infosys declines as its four promoters sell off 32.6 million shares for $1.1 billion

09 Dec 2014

Infosys is currently trading at Rs. 1964.50, down by 4.10 points or 0.21% from its previous closing of Rs. 1968.60 on the BSE.

The scrip opened at Rs. 1985.00 and has touched a high and low of Rs. 1986.00 and Rs. 1952.55 respectively. So far 106211 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2200.50 on 01-Dec-2014 and a 52 week low of Rs. 1447.00 on 30-May-2014.

Last one week high and low of the scrip stood at Rs. 2165.00 and Rs. 1958.50 respectively. The current market cap of the company is Rs. 225537.00 crore.

The promoters holding in the company stood at 15.92 % while Institutions and Non-Institutions held 57.15 % and 11.93 % respectively.

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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