Infosys stock falls on founders cutting $1.1 bn stake

Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the Indian IT outsourcing company, IFR reported on Monday.

The founders are offering 32.6 million shares in Infosys at a fixed price of Rs 1,988 ($32) each, a 4 per cent discount to Friday's close, the report said.

The Infosys stock closed 4.88 per cent lower at Rs 1,968, a loss of 101 points on the BSE.

 

Deutsche Bank is the sole book runner and the books were covered just after the launch, IFR, a Thomson Reuters publication said.

Infosys executives were not immediately available outside regular business hours.

($1 = 61.8830 Indian rupees)

(Reuters)