Pursuits
Infosys Co-Founders Sell About $1 Billion of Stock
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The families of four co-founders of Infosys Ltd. sold about 65 billion rupees ($1 billion) of stock to capitalize on a gain in their price and to fund philanthropy.
Co-founders N.R. Narayana Murthy, K. Dinesh and Nandan M. Nilekani and their families sold 30.2 million shares at an average price of 1,988.87 rupees, according to an e-mailed statement today. The wife of S.D. Shibulal also sold 2.4 million shares, with all sales to institutional investors handled by Deutsche Bank AG.