One of the co-founders of Infosys, S D Shibulal announced on Saturday that between July 22 and July 24, his family members have sold 0.20 per cent of their holding in Infosys Ltd on the stock exchanges.
Proceeds from the partial stake monetisation will be utilized for a combination of philanthropic and investment activities, a statement said.
The sale was executed by Citigroup Global Markets India Private Limited as the Sole Broker.
The founders, have served Infosys in various capacities, since its inception in 1981 until October 2014. Over the three decades, the founders have nurtured the company transforming it into one of the professionally run companies in India with a global presence.