Infosys cofounder Shibulal's son, daughter-in-law offload shares worth Rs 435 crore

economictimes.indiatimes.com:

Infosys cofounder SD Shibulal's son Shreyas Shibulal and daughter-in-law Bhairavi Madhusudhan Shibulal have divested part of their shareholding worth a total of Rs 435 crore in the company on Thursday.

Cumulatively, Shreyas and Bhairavi have sold 0.06% and 0.02% of their respective shareholding in Infosys, country’s second-largest software firm, cofounded by Shibulal along with six others including Narayan Murthy and current chairman Nandan Nilekani.

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Shreyas offloaded 2.37 million shares (23,70,435) of Infosys at a price of Rs 1,433.5168 per share, valuing the stake sale at Rs 339.80 crore, as per a filing on stock market exchanges on Thursday.

Before the sale on Thursday, Shreyas held 23.70 million shares, equivalent to 0.64% of total paid-up capital of the company. Post the share sale, he holds 21.34 million shares, equivalent to 0.58% of stake in the homegrown IT giant.

On similar lines, Bhairavi offloaded 0.67 million (6,67,924) shares at the price of Rs 1,432.9691 apiece, amounting to Rs 95.71 crore. The share sale was around 0.02% of the 0.18% Infosys shares held by her. She now owns 6.01 million shares or 0.16% stake in the company.

Of the total promoter stake of 14.89% held by the cofounders and their families, Shibulal and his family held 1.94% ownership of Infosys, as on September 2023. Of this, Shibulal owns 0.16% stake, while his wife Kumari Shibulal’s stake is 0.14%.

Narayan Murthy held 0.45% while Nandan