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Infosys shares fall on media report of stake sale by founders

Reuters | Updated on January 12, 2018 Published on June 09, 2017

infosys

Infosys Ltd ended down 0.8 per cent, after falling as much as 3.5 per cent earlier, despite the company denying a media report that said the IT bellwether's promoters were looking to sell their entire stake

Earlier in the day, the stock fell as much as 3.5 per cent to their lowest in over a month.

Infosys co-founders are exploring a sale of their entire 12.75 per cent stake, worth about Rs 28,000 crore ($4.36 billion), in the software services exporter, the media report said.

The report, however, quoted Infosys founder Narayana Murthy denying such a move. Murthy, along with his family, is the largest shareholder in Infosys with a 3.44 per cent stake.

Promoters were not immediately reachable. Infosys had no immediate comment

Published on June 09, 2017
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