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Bengaluru: Infosys co-founder S D Shibulal and his family members have 8.5 million shares or 0.20% paid up share capital in the company between July 22 and 24.
Proceeds from this transaction will be used for a combination of philanthropic and investment activities, according to a statement issued by the Shibulal and family members.
The estimated proceeds from the stake sale is more than Rs 780 crore.
The sale was executed by Citigroup Global Markets India Pvt Ltd as the sole broker.
The founders, have served Infosys in various capacities, since its inception in 1981 until October 2014.
Shibulal was the chief executive officer of the India IT services major between 2011 and 2014.
During the past three decades, the founders have nurtured the company transforming it into one of the professionally run companies in India with a global presence.
Currently, Shibulal is the co-founder of Axilor Ventures, which invests in technology-focused startups. His philanthropic platform ShikshaLokam invests in improving high school education across different states in the country.
Proceeds from this transaction will be used for a combination of philanthropic and investment activities, according to a statement issued by the Shibulal and family members.
The estimated proceeds from the stake sale is more than Rs 780 crore.
The sale was executed by Citigroup Global Markets India Pvt Ltd as the sole broker.
The founders, have served Infosys in various capacities, since its inception in 1981 until October 2014.
Shibulal was the chief executive officer of the India IT services major between 2011 and 2014.
During the past three decades, the founders have nurtured the company transforming it into one of the professionally run companies in India with a global presence.
Currently, Shibulal is the co-founder of Axilor Ventures, which invests in technology-focused startups. His philanthropic platform ShikshaLokam invests in improving high school education across different states in the country.