Infosys Co-Founder SD Shibulal Gets 4.01 Lakh Company Shares As ‘Gift’
An Infosys Technologies Ltd. sign is displayed. (Photographer Tony Avelar/Bloomberg)

Infosys Co-Founder SD Shibulal Gets 4.01 Lakh Company Shares As ‘Gift’

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SD Shibulal, co-founder of Infosys Ltd., has received as gift 4.01 lakh shares of the software services company, according to a regulatory filing on Friday.

He now holds more than 21.6 lakh shares in the information technology firm.

“4,01,000 equity shares (representing 0.01%) of Infosys by way of gift as off market transaction on November 12, 2020” were given to Shibulal, the company said in the regulatory filing, but did not mention who gifted him these shares.

A separate regulatory filing stated that Shibulal's wife Kumari had gifted 4.01 lakh shares on the same day but the name of the recepient was not disclosed.

Kumari's shareholding in Infosys has now come down to 0.21% while that of Shibulal increased to 0.05%, according to the filings. Post the transaction, the number of Infosys shares owned by Kumari and Shibulal stood at 88,96,930 and 21,66,768, respectively.

Family members of Shibulal had in July 2020 sold 85 lakh shares of Infosys worth over Rs 770 crore. The proceeds were to be utilised for philanthropic and investments. He, at present, invests in technology startups through Axilor Ventures that he co-founded with Infosys co-founder Kris Gopalakrishnan.

Shibulal, along with NR Narayana Murthy and five others, founded Infosys in 1981. He served as the chief executive officer and managing director of the company from 2011 to 2014. He was the chief operating officer between 2007 and 2011.

On Friday, shares of Infosys rose 0.55% to Rs 1,123.90 apiece on the BSE while the benchmark Sensex gained 0.20% to end the day at 43,443.00 points.

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