Family members of Infosys co-founder SD Shibulal have sold 85 lakh shares of the company between July 22-24, according to regulatory filings.
Shibulal's son Shreyas sold 40 lakh shares, "representing 0.09 per cent of Infosys Ltd by way of sale on the platform of the stock exchange on July 22, 23 and 24, 2020", an exchange filing by the company showed.
He previously held 0.66 per cent shares in Infosys and post the transaction, his holding has come down to 0.56 per cent, it added.
Gaurav Manchanda, son-in-law of the Infosys co-founder, sold 18 lakh shares (0.04 per cent), while 15 lakh shares (0.03 per cent) held by grandson Milan Shibulal Manchanda were offloaded on the same dates, additional filings by the IT company showed. Gaurav's shareholding now stands at 0.32 per cent, while that of Milan is at 0.33 per cent.
SD Shibulal's wife, Kumari, sold 12 lakh shares (0.03 per cent) of Infosys and her shareholding is now at 0.22 per cent.
SD Shibulal along with NR Narayana Murthy and five others had founded Infosys in 1981. Shibulal served as the Chief Executive Officer and Managing Director of Infosys from 2011-2014. Prior to becoming CEO and MD, he served as the Chief Operating Officer of the company from 2007-2011.
Currently, he invests in technology startups through Axilor Ventures that he co-founded with Infosys co-founder Kris Gopalakrishnan.