Infosys chairman's wife sells shares worth $92 mn

BRAND INDIA: Company is India's second-largest software exporter.

Ads by Google

ibnlive.com is on mobile now. Read news, watch videos
be a Citizen Journalist. Log on to m.ibnlive.com NOW!

Related Stories

• Murthy didn't dishonour National Anthem: HC

• BJP wants Murthy to help with policy-making

• We respect Satyam staff as professionals: Murthy

Photogallery

Find us on Facebook | Join IBNLive community

Stay ahead with G-Talk Buddy | Click now!

  

Bangalore: Infosys Technologies, India's second-largest software exporter, said on Thursday its chairman's wife sold company shares worth Rs 4.30 billion ($92 million) for setting up a venture capital fund.

Separately, Nasdaq-listed Infosys said its Chief Executive Kris Gopalakrishnan purchased 400,000 company shares from the market on Thursday for Rs 866 million, taking his total holding to 6.7 million shares.

Sudha Murthy, wife of Infosys co-founder and chief mentor N.R. Narayana Murthy, sold 2 million shares, or about 22 percent of her total holding, on the Bombay Stock Exchange on Thursday, the company said in a filing.

Last month, Narayana Murthy, who co-founded Infosys with six other software engineers including Gopalakrishnan in 1981 with $250, had sold a total of 800,000 shares worth $37 million to set up a venture capital fund which he plans to set up in India.

The company said the Murthys have confirmed they did not plan to raise further capital for the fund.

Infosys shares ended down 0.7 percent at 2,223.10 rupees in a Mumbai market that rose nearly 1 percent. The stock had fallen as much as 3.7 percent during the day on a trading volume at 2.2 million shares, nearly 13 times its 90-day average volume.