Industry Updates

Co-founder S.D. Shibulal’s Family Sell Shares of Infosys Limited

Published: May 16, 2024
Author: Fashion Value Chain

Today, Mr. S.D. Shibulal (Co-founder and Former CEO, Infosys Limited) announced that his one of his family members has sold a portion of their holding in Infosys Limited on the stock exchanges yesterday.

S.D. Shibulal

The sale was executed by Cholamandalam Securities Limited as the Sole Broker.

The co-founders have nurtured the company for over three decades, transforming it into one of the most professionally-run companies in India with a global presence. Proceeds from the partial stake monetization will be utilized for a combination of personal and philanthropic activities.

This press release is for information purposes only and is not an offer to sell, or a solicitation of an offer to buy, any of the shares described herein. The shares have not been and will not be registered under the US Securities Act of 1933, as amended (the “US Securities Act”), or in any state or other jurisdiction of the United States. Securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the US Securities Act. There has not been and there will not be any public offering of the shares in the United States.

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