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
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.)