Infosys co-founder Shibulal buys company shares worth Rs 100 crore

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Infosys co-founder S D Shibulal on Wednesday purchased shares worth Rs 100 crore of the IT major through an open market transaction.

Shibulal bought over 7.53 lakh shares at an average price of Rs 1,327 per share, valuing the transaction at Rs 100 crore, BSE block deal data showed.

"We are hereby informing you about the Sale of 7,53,580 equity shares (representing 0.02 per cent) of Infosys Limited to Mr S D Shibulal by way of block sale on the platform of the Stock Exchange on 19th May 2021," Infosys said in a regulatory filing.

At the end of the March quarter, Shibulal held a 0.05 per cent stake in the company.

As per a separate transaction, Shibulal's wife Kumari sold over 7.53 lakh shares on Wednesday at the same price of Rs 1,327 apiece.

Post the transaction, her shareholding has come down to 0.17 per cent from 0.19 per cent.

Prior to this, S D Shibulal on May 12 had bought 7.58 lakh scrips of Infosys worth Rs 100 crore, through an open market deal.

The scrips were offloaded by Kumari Shibulal.

On Wednesday, shares of Infosys 0.25 per cent lower at Rs 1,336.55 apiece on BSE.