The Hindu Business Line : Narayana Murthy richer by close to Rs 1,000 cr

The Infosys' founder, Mr N.R. Narayana Murthy's Midas touch remains intact. Months after he hung up his boots as the Chairman of Infosys, the Indian IT icon is richer by close to Rs 1,000 crore after he sold 40 lakh shares through the company's sponsored secondary ADS offer, followed closely by his co-promoters who took between Rs 396 crore and Rs 674 crore.

Cumulatively, the promoters and senior officials of Infosys, who sold some 1.3 crore shares in the sponsored ADS offer are richer by Rs 3,129 crore. Interestingly, the bounty for Infosys promoters has doubled in just about a year. In the previous ADS issue in May 2005, these promoters had walked away with Rs 1,500 crore.

The CEO, Mr Nandan Nilekani, offloaded some 28 lakh shares to be richer by Rs 674 crore, while the President and COO, Mr S. Gopalakrishnan, follows his CEO and co-promoter with Rs 650 crore.

Mr S.D. Shibulal, Head of Delivery, sold 17.85 lakh shares to realise Rs 429 crore, while the Board Member and co-Founder, Mr K. Dinesh, offloaded 16.49 lakh shares to gain Rs 396 crore. The Director and HR head, Mr T.V. Mohandas Pai, sold some 55,000 shares to realise Rs 13 crore.

Surprisingly, none of the independent directors on the board participated in the offer. All the eight independent directors holding little less than two lakh shares opted to stay with their holdings.

More Stories on : Software | People | Stocks | Overseas Borrowings | Infosys Technologies Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page