Cognizant Australia-NZ Head quits; replaced by PwC Executive. Infosys co-founder Shibulal's family raise over Rs 750 crore with Infosys share sale | Photo Credit: BCCL, Harley Exits India | MG Gloster | Sonet GTX+ | KTM 250 ADV | BMW M 1000 RR | Times Drive NewsBrake, How To Cope With Stress During The Pandemic | MPower To ET NOW | India Development Debate, Focus On India's Healthcare System | Niti Aayog To ET NOW | India Development Debate, Is The Worst Of Job Loss Yet To Come? Due to the current favorable environment for Indian Startups, Shibulal wants to pump more money to startups ventures. Among the members, son Shreyas sold 40 lakh shares, representing 0.09 per cent of Infosys, on July 22, 23 and 24. Shibulal served as the Infosys Chief Executive Officer and Managing Director from 2011-2014. This included shares held by his wife Kumari Shibulal, his son-in-law Gaurav Manchanda, how son Shreyas Shibulal and shares that were gifted to his grandson, Milan Shibulal Manchanda. Based on the last closing price, the amount raised works out to over Rs 780 crore. SD Shibulal is working towards transforming Indian school education with the help of technology via his platform ShikshaLokam, Shibulal family also runs the Advaith Foundation and the Sarojini Damodaran foundations, Infosys Vanguard deal: 10 key details of first Billion-Dollar deal of Infosys. He served as the chief executive officer and managing Director of Infosys from 2011–2014. A separate statement issued by Shibulal’s family office said the proceeds will be used for philanthropic and investment activities. We bring the Lastest happening of Indian IT Industry and exclusive stories that matter for Software Engineers and IT Professionals. Who is SD Shibulal? | India Development Debate, Gangster's Rs 4 cr land attached: Noida police, Pune: 4 volunteers for Covid vaccine trials have antibodies, Kolkata metro might increase frequency of trains, Farm Bills: BJP to hold 15-day campaign in seven states, Airlines might collapse if situation doesn't improve: GoAir, UP girl gets Rs 10 crore in bank account; cops baffled, RIL emerges as surprise contender to acquire UK’s Debenhams, [Exclusive] PhonePe backs Paytm in fight against Google, Bloodbath on Dalal Street as Sensex tanks 1,115 points, Watch the Insights from the business community on how to Reboot, Reload and Relaunch the Indian Economy on 26, Decoding the Infosys transformation with Salil Parekh | EXCLUSIVE, Infosys plans to acquire GuideVision for 30 million Euros, HCL Tech and Infosys hit record high in trade, Strong quarters for Infosys | CEO Salil Parekh talks about growth momentum to ET Now. Details of family members and their value of shares traded. Shibulal’s Son startup SD Shibulal’s son Shreyas Shibulal founded Micelio, a startup fund focused on developing electric vehicles based out of Bengaluru in 2019. While son Shreyas Shibulal owned 1.80 crore shares or 0.66 per cent equity stake and daughter Shruti Shibulal had 27.37 lakh shares or 0.06 per … In 2016, Kris and Shibu raised Rs 862 crore with another tranche of Infosys share sale. About 15 lakh shares (0.03 per cent) held by grandson Milan Shibulal Manchanda were sold on the same dates for Rs 137.11 crore, bringing down his stake to 0.33 per cent. The family office said the proceeds will be used for philanthropic and investment activities. Prior to becoming CEO and MD, he served as the Chief Operating Officer of the company from 2007-2011. This represented approximately 0.20% of the paid-up equity capital. And how many shares his family sold? Citigroup Global Markets India Pvt Ltd executed this Sale as a sole broker. Covid-19 Layoff: Software Engineer becomes Liquor maker. The family members of Infosys co-founder S.D. Shibulal’s wife, Kumari Shibulal, sold 12 lakh shares (0.03 per cent) of Infosys for Rs 109.68 crore and she now holds a 0.22 per cent stake.
Also Read: Infosys Vanguard deal: 10 key details of first Billion-Dollar deal of Infosys. 32 Crore Orders for Bharatnet Project, Software Engineer Leaves IT Job and becomes Chaiwala (tea seller). Watch the Insights from the business community on how to Reboot, Reload and Relaunch the Indian Economy on 26th September from 12pm onwards on Times Network. A separate statement issued by Shibulal’s family office said the proceeds will be used for philanthropic and investment activities. Cumulatively, the value of the transactions is about Rs 777 crore. All rights reserved. Biggest Accenture Layoff: 25000 job cuts worldwide including India, HCL to hire Experienced Professionals for Nagpur campus through Virtual Recruitment Drive. Data from NSE shows that 85 lakh shares were sold by members of SD Shibulal's family in the last few days. In 2014, Infosys founders along with their families sold $1.1 billion worth of shares to fund their investments. This included shares held by his wife Kumari Shibulal, his son-in-law Gaurav Manchanda, how son Shreyas Shibulal and shares that were gifted to his grandson, Milan Shibulal … Infosys Co-founder and former Infosys CEO, SD Shibulal and his family, sold 85 lakh of their equity shares in the IT company Infosys Technologies worth over ₹770 crore. On Friday, shares of Infosys had ended at Rs 922.60-a gain of 13.75 per cent or 1.51 per cent over its last close. Dell Layoff 2020 Confirmed: India impacted!!