Infosys Co-founders Gopalakrishnan, Shibulal Sell Their Shares Worth Rs 862 Crore
Two of the billionaire co-founders of software major Infosys, S Gopalakrishnan and S D Shibulal, and some of the latter's family members sold 7.5 million equity shares of the company for Rs 862 crore on exchanges.
The sale was executed by Citigroup Global Markets India Private Limited as the sole broker for the sale of shares, Gopalkrishnan and Shibulal said.
The sale of shares was executed at an average price of Rs 1,149.45 across all sellers, they said in a joint statement here.
The founders have served Infosys in various capacities, since its inception in 1981 until October 2014 and made it a professionally run company with a global presence.
TThe sale has been done to partially monetize their stake, having nurtured the company for more than three decades, for personal reaso...