"Today, Shruti and I have transferred part of our Infosys holdings to my son-in-law, Gaurav Manchanda, daughter-in-law Bhairavi Madhusudan Shibulal and grandson, Milan Shibulal Manchanda. We have informed Infosys of these transfers. The transfers have been made within family members to provide equity for the next generation," Shibulal said in a statement.
As per BSE filing, Shibulal gifted 7.9 million shares and his daughter Shruti gifted 12.3 million shares.
The estimated valuation of these shares as per today's closing price of Rs 1,148.7 a unit comes to Rs 2,327.82 crore.