Infosys co-founder SD Shibulal's family sells over 6.59 lakh shares

Of late, Shibulal's family has been selling its stake in the IT giant.

Family members of Infosys co-founder SD Shibulal have sold over 6.59 lakh shares of the company in the open market between January 29-30, according to exchange filings.

Shibulal's wife Kumari Shibulal sold over 2.70 lakh shares, representing 0.01 percent of Infosys. She previously held 0.13 percent shares in Infosys; post-transaction, the holding has come down to 0.12 percent.

Gaurav Manchanda, the son-in-law of the Infosys co-founder, sold over 3.89 lakh shares and his shareholding in the company now stands at 0.32 percent, exchange filings by the IT company showed.

Of late, Shibulal's family has been selling its stake in the IT giant. In October 2023, Shibulal's son Shreyas Shibulal and daughter-in-law Bhairavi Shibulal also sold part of their shareholding worth over Rs 435 crore.

Shibulal along with NR Narayana Murthy and five others founded Infosys in 1981. Shibulal served as the chief executive officer and managing director of Infosys from 2011 to 2014. Before 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 which he co-founded with Infosys co-founder Kris Gopalakrishnan.