Shibulal strengthens stake in Infosys, picks shares worth Rs 100 crore from open market

Strengthening stake in global technology company Infosys, former co-founder S D Shibulal has picked company shares worth Rs 100 crore through an open market transaction.

Shibulal bought over 7.45 lakh shares at an average price of Rs 1,342.05 per share, valuing the transaction at Rs 100 crore, BSE block deal data showed. At the end of the March 2021 quarter, Shibulal held a 0.05% stake in the company.

As per a separate transaction, Shibulal’s wife Kumari sold over 7.45 lakh shares on Monday at the same price of Rs 1,342.05 apiece. According to shareholding data for the March 2021 quarter, Kumari, a promoter of the firm, held 0.21% stake in the firm.

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Prior to this, S D Shibulal had purchased the firm’s scrips worth Rs 100 crore on May 12 and for Rs 100 crore on May 19, through open market deals. The scrips were offloaded by Kumari Shibulal on both occasions. Shares of Infosys on Monday ended 0.48% lower at Rs 1,348.15 apiece on the BSE.