Narayana Murthy’s wife sells 20 lakh Infosys shares

By Assam News on November 5, 2009 at 9:07 am

On Thursday, Sudha Murthy, the wife of Infosys’s co-founder Narayana Murthy, sold 20 lakh (1.6 million) company shares owned by her for over Rs 430 crore (US$91.5 million) in the open market. Post sell-off, Sudha’s holding will be now reduced to 73.14 lakh shares, representing 1.27 per cent stake in the multinational company.

According to a regulatory disclosure by Infosys to the stock exchanges, Sudha has sold 20 lakh shares owned by her for an aggregate value of Rs 430.37 crore through open market sale today on the Bombay Stock Exchange. The money raised would go into the corpus of Catamaran, a venture capital fund founded by her husband.

“N R Narayana Murthy has informed the company that the proceeds of the sale will be used as a corpus for the Venture Capital Fund that is being set up in India by him to assist young entrepreneurs in their business, primarily in India,” the disclosure said.

Last month, Murthy had also sold 0.13 per cent stake to raise Rs 174 crore to invest in the venture capital fund. According to the September quarter shareholding data available with stock exchanges, Sudha held 1.62 per cent in Infosys, while Murthy held 0.55 per cent stake before selling. The couple’s daughter Akshata and son Rohan holds 1.41 per cent and 1.39 per cent stake respectively in Infosys.

Category: Business | Tags: Business, India, Infosys, Money, Narayana Murthy, Share Market

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