Infosys shares fell in early trade after four of the
founders of Infosys Ltd are seeking to raise about $1.1 billion by selling
stakes in the Indian IT outsourcing company.
According to an IFR report, the founders are
offering 32.6 million shares in Infosys at a fixed price of 1,988 Indian rupees
($32) each, a 4 percent discount to Friday's close.
Shares fell about 4 percent at open, before
recovering some lost ground to trade 3.4 percent lower, after a block-deal sale
of 32.6 million shares reportedly belonging to founders of the firm went
through this morning.
As of September, founders of Infosys, still
classified as promoters of the firm, held a total 15.92 percent in the firm. This
stake cumulatively belongs to co-founders Narayana Murthy, Nandan Nilekani, S
Gopalakrishnan, K Dinesh and SD Shibulal and their families.
The stock of India’s second largest IT-services
outsourcer has risen over 50 percent in the past six months.
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