Infosys dips 4% after huge block deal

Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the company

Shares of Infosys have dipped 4% to Rs 1,993 after a huge block deal executed on the counter on the National Stock Exchange (NSE). The stock opened at Rs 2,019 and touched a low of Rs 1,988 on NSE.

A total 32.3 million shares representing 2.8% of total equity of Infosys changed hands in multiple block deals in early morning trade. However, the identity of the buyers and sellers could not be yet ascertained.

According to a Reuters report, four of the founders of Infosys were planning to raise about $1.1 billion (approx Rs 6,481 crore) by selling a stake in the Indian IT outsourcing company, IFR reported on Monday.

"The founders are offering 32.6 million shares in Infosys at a fixed price of Rs 1,988 each, a 4% discount to Friday's close," the report said.

Meanwhile, till 0928 hours, a combined around 35.5 million equity shares of the information technology company changed hands on NSE and BSE.