Infosys promoters sell stake via block deals

S Gopalakrishnan and S D Shibulal, along with his family members, sold 7.5 million shares of Infosys via open market.

Infosys co-founders S Gopalakrishnan and S D Shibulal, along with his family members, sold 7.5 million equity shares of the company, for about Rs 900 crore, through open market transaction.

S Gopalakrishnan has sold 50 lakh shares representing 0.22% of total equity of Infosys via open market on BSE and the National Stock Exchange (NSE), according to information filed by the company with the stock exchange.

S D Shibulal and Shruti Shibulal sold 10 lakh shares, while Kumari Shibulal sold 5 lakh shares via block deals today morning.

The shares were offered in a price range of Rs 1,149 and Rs. 1,178.5, according to Bloomberg report.

The share sale led to a sharp plunge in the IT heavyweight’s share price, eroding about Rs 7,637 crore from the company’s market capitalization till 02:41 p.m. The Infosys stock hit an intra-day low of Rs 1,139 today, currently quoting 2.8% lower at Rs 1,145 on the NSE.

Name	Shares sold	% stake
S Gopalakrishnan	5,000,000	0.218
Shruti Shibulal	1,000,000	0.044
SD Shibulal	1,000,000	0.044
Kumari Shibulal	500,000	0.022
Total	7,500,000	0.326
Source: BSE