Jun 09, 2017

Infosys denies stake sale plan by promoters

BYPankaj Mishra

Infosys on Friday denied any stake sale plan by its promoters and appealed to media not to write such “speculative” stories.
“Infosys would like to clarify reports in the media speculating on plans of stake sale by the promoters. This speculation has already been categorically denied by the promoters. The company further reiterates that it has no information on any such development,” an official statement by the company said.
“We would like to appeal to the media not to fuel such speculative stories as they are likely to harm the interests of the company and all its stakeholders,” it added.
The Times of India, Delhi, on Friday published a news item on its front page that said: “The much-celebrated co-founders of Infosys are exploring a sale of their entire 12.75% stake in the company worth about Rs 28,000 crore, people familiar with the development said.”
It named Narayana Murthy, Kris Gopalakrishnan, Nandan Nilekani, K. Dinesh and S.D. Shibulal among the promoters who were planning to sell their stake, along with the shares held by their families.
The company’s shares were trading at Rs 940.10 per share, down 1.69% around 1.30pm on the Bombay Stock Exchange.

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Pankaj Mishra is a writer of FactorDaily.