Sudha Murthy sells shares to fund Catamaran
Facebook Twitter google+ RSS Feed

Sudha Murthy sells shares to fund Catamaran

By SiliconIndia   |   Friday, 06 November 2009, 02:11 Hrs
Printer Print Email Email
Sudha Murthy sells shares to fund Catamaran
Bangalore: Sudha Murthy, the wife of Infosys Technologies Co-founder N.R. Narayana Murthy, has sold two million shares of her holding in the IT bellwether for over 430 crore (4.3 billion/$91.5 million), Infosys informed.

In 1981, Sudha sold her jewelery to give her husband 10,000 in seed money to start Infosys. This time the reason is again to fund her husband's latest venture, a venture fund called Catamaran.

In a regulatory filing to the stock exchanges, the Infosys said post-sale, Sudha Murthy's holding in the company had declined to 7,314,600 shares from 9,314,660 shares. In a related development, Infosys' Co-founder and CEO S. Gopalakrishnan purchased 400,000 shares for around 86.6 crore (866 million/$18.4 million) from the market.

"Post-purchase, Gopalakrishnan holds 6,656,726 shares," the company said. The blue chip company's share of 5 on par ended at 2,218 on the Bombay Stock Exchange (BSE) Thursday. Infosys Chief Mentor Narayana Murthy sold 800,000 shares on October 22 from his holding in the company for 177 crore (1.77 billion/$37.9 million) to set up a venture capital fund in India.

As one of the Co-founders of the global software major, Murthy's holding in the company post-selling is 2.38 million shares.

Write your comment now
Submit Reset
SPOTLIGHT