Today, one of the Co-founders of Infosys, SD Shibulal announced that over the last three days (22nd - 24th July) his family members have sold a portion of (representing approximately 0.20 per cent of the paid-up equity share capital) their holding in Infosys Ltd on the stock exchanges.
Proceeds from the partial stake monetization will be utilized for a combination of philanthropic and investment activities.
The sale was executed by Citigroup Global Markets India Private Limited as the Sole Broker.
The Founders, have served Infosys in various capacities, since its inception in 1981 until October 2014. Over the three decades, the Founders have nurtured the company transforming it into one of the professionally run compes in India with a global presence.
This press release is for information purposes only and is not an offer to sell, or a solicitation of an offer to buy, any of the shares described herein. The shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or in any state or other jurisdiction of the United States.
Securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the US Securities Act. There has not been and there will not be any public offering of the shares in the United States.
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( With inputs from ANI )