Business News

Infosys promoters offer to sell 1.77 crore shares worth Rs 2,083 crore in buyback

Co-founders Narayana Murthy and Nandan Nilekani and their families have offered to tender 112 lakh shares.

Infosys promoters, including co-founders NR Narayana Murthy and Nandan Nilekani, have offered to sell 1.77 crore shares worth Rs 2,083 crore as part of the company’s Rs 13,000-crore buyback offer, PTI reported on Monday. The founders and their families held 29.28 crore shares – a 12.75% stake in Infosys – at the end of June 2017.

While Nilekani and his family have offered to sell 58 lakh shares, Murthy, his wife Sudha Murthy and their two children may sell over 54 lakh shares. S Gopalakrishnan and family have offered to sell 22 lakh shares, and K Dinesh 29 lakh shares.

Another founding member, SD Shibulal, has not offered to tender any shares, but his wife and son may sell over 14 lakh shares.

On August 19, Infosys had announced that its board of directors had approved a buyback offer of 11.3 crore equity shares worth around Rs 13,000 crore. The buyback price per share will be Rs 1,150. The announcement came a day after Vishal Sikka quit as the cheif executive offer and managing director of Infosys.

Nandan Nilekani was named the company’s non-executive chairperson on August 24.

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