The Infosys stock fell 5 percent at yesterday's closing. Vibhor Singhal of Phillip Capital believes investors are reading too much into promoters selling their stake and yesterday's selling was an over-reaction.
Deutsche Bank is the sole book runner of the sale and the books were covered just after the launch, said Thomson Reuters publication IFR. It named the founders as Narayana Murthy, Nandan Nilekani, SD Shibulal and K Dinesh.
Infosys, which has fallen short of expectations with its fourth quarter numbers, is not taking this lying down. It has chalked out a major restructuring plan that it says will help accelerate growth, report CNBC-TV18's Sunanda Jayaseelan and Vineetha Athrey.
Member of the Infosys board TV Mohandas Pai has resigned from the company. The news comes on the sidelines of the companies fourth quarter results announcement on Friday.