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PTI 10 Aug 2018, 03:04 PM India

Shibulal's family sells 1.6 million equity shares of Infosys

Bengaluru, Aug 10 (PTI) Co-founder and former CEO ofIT

major Infosys S D Shibulal today announced that some of his

family members have sold 1.6 million equity shares

(representing 0.074 per cent of the paid-up equity share

capital) of Infosys Ltd on the stock exchanges.

The shares were sold during the period August 8, 2018 to

August 10, 2018, a release from Shibulal's officesaid.

The sale was executed by Citigroup Global MarketsIndia

Private Limited as the Sole Broker for the sale ofshares.

The release said the partial monetization was done to

raise proceeds for personal reasons, including for the

betterment of the society through various philanthropic

activities.

Even after this sale, the founder group would continueto

have a substantial shareholding in the company, it added.

Shibulal was the last of seven co-founders to hold the

CEO position at Infosys, from which he stepped down in July

2014.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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