Infosys falls 5% after founder families offload shares
Moneylife Digital Team 08 December 2014

Families of Narayana Murthy, Nilekani, K Dinesh and SD Shibulal have offloaded their shares resulting Infosys to tumble 5% to Rs1,968 on Monday

 

Infosys Ltd's four founder families including NR Narayana Murthy, Nandan Nilekani, Dinesh Krishnaswamy and SD Shibulal have sold some of their shares in the company. The selling comes after the recent bonus issue of shares in the ratio of 1:1 by the company. Following the news of stake sale by founders and founder families, Infosys on Monday fell about 5% to Rs1958.5 before recovering marginally.
 
In a regulatory filing, Infosys, said, Narayana Murthy and Nandan Nilekani family have sold 12 million shares each worth of Rs4,771 crore, while Dinesh Krishnaswamy and his family sold 6.2 million shares amounting of Rs1,232 crore and Kumari Shibulal sold 2.4 million shares of Rs477 crore.
 
Rohini Nilekani, Nandan M Nilekani and Akshata Murthy sold 6 million shares, while Sudha Murthy sold 5.6 million and Asha Dinesh sold 4 million shares, data shows. Deeksha Dinesh sold 7.50 lakh shares reducing her stake in Infosys to 0.174% from 0.239%.
 
Promoters' holding at the end of September 2014 quarter was 15.92%. Foreign institutional investors (FIIs) accounted for the single majority shareholding in Infosys with 42.67% stake, while domestic institutional investors (DIIs) held 14.48% stake.  Others, including retail investors, hold 26.93% stake in Infosys, according to data from BSE.
 
Following the share sale by promoters, Infosys closed Monday almost 5% down to Rs1968.6 on the BSE, while the benchmark Sensex ended the day 1.2% down at 28,119.
Comments
VGANESAN
1 decade ago
INfosys share holding of promoters steadily decling in the last few years shows either the company future prospects are not bright or the present value is highly over valued. And the promoter or so called founders wnts to exit shows it is headed down once moneylife also mentioneed Infosys is not a value buy. Iadvice investors to switch either TCS TECHMAHINDRA OR hcl technologies in IT SPACE.IT is a matter of time FII also realize.
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