Sudha Murthy sells 20 lakh company shares to raise funds for VC corpus
06 Nov 2009
Infosys's co-founder Narayana Murthy's wife Sudha Murthy yesterday sold 20 lakh company shares owned by her for over Rs430 crore in the open market.
According to Infosys' filing with the Bombay Stock Exchange, Sudha Murthy, wife of Infosys founder Narayan Murthy and co-founder of the IT major sold 20 lakh shares from her holding in the company on Thursday. The open market transaction is valued at Rs430 crore.
The proceeds of the sale would go towards the corpus of Catamaran, a venture capital fund founded by her husband.
According to Narayana Murthy, the fund has been set up to assist young entrepreneurs in their business primarily in India.
With the sale Sudha's holding in Infosys has reduced to 73.14 lakh shares amounting to 1.27 per cent stake the company.
Last month, Murthy had also sold Murthy had sold 0.13 per cent stake to raise Rs174 crore to invest in the venture capital fund. According to the September quarter shareholding data with the stock exchanges, Sudha held a 1.62 per cent share in Infosys while Murthy held a 0.55 per cent stake prior to the sell off.
