One of the co-founders of Infosys, S.D. Shibulal, announced on Saturday that between July 22 and July 24, his family members sold 0.20 per cent of their holding in Infosys Ltd on the stock exchanges.

Proceeds from the partial stake monetisation will be utilised for a combination of philanthropic and investment activities, a statement said.

Citigroup Global Markets India Pvt Ltd was the sole broker in the stake sale.

The founders have served Infosys in various capacities since its inception in 1981 until October 2014. Over the three decades, the founders nurtured the company, transforming it a professionally run company with a global presence.