Infy owners offer to sell stake in ADS
Infosys Technologies' promoters have offered a part of their shareholdings in the recent sponsored American Depository Shares (ADS) issue and, if all of these is accepted, they will have earned some several hundred crores of rupees.
By TNN |
BANGALORE: Infosys Technologies' promoters have offered a part of their shareholdings in the recent sponsored American Depository Shares (ADS) issue and, if all of these is accepted, they will have earned some several hundred crores of rupees.
It will also reduce the promoters’ holding in the company from a little over 19% to 17%. Infy chief mentor NR Narayana Murthy who held a 5.85% stake has offered 4 million shares, which brings his and his family’s stake down to 5.13%. At Infy’s ADS price of about $55 (the price the issue gets could be slightly lower), Murthy’s offer of shares will bring him about $220 million (approximately Rs 1,000 crore).
The company’s CEO, Nandan Nilekani’s stake drops from 4.05% to 3.55% and his offer of 2.79 million shares will make him richer by $155 million. S Gopalakrishnan, COO, will find his stake falling from 3.93% to 3.44%.
K Dinesh, SD Shibulal and Srinath Batni too have offered a part of shareholding — 1.6 million shares, 1.8 million shares and 25,000 shares respectively. As have most of the big financial investors in Infy, like Deutsche Bank Securities, JP Morgan Securities, Merrill Lynch Capital Markets.
It will also reduce the promoters’ holding in the company from a little over 19% to 17%. Infy chief mentor NR Narayana Murthy who held a 5.85% stake has offered 4 million shares, which brings his and his family’s stake down to 5.13%. At Infy’s ADS price of about $55 (the price the issue gets could be slightly lower), Murthy’s offer of shares will bring him about $220 million (approximately Rs 1,000 crore).
The company’s CEO, Nandan Nilekani’s stake drops from 4.05% to 3.55% and his offer of 2.79 million shares will make him richer by $155 million. S Gopalakrishnan, COO, will find his stake falling from 3.93% to 3.44%.
K Dinesh, SD Shibulal and Srinath Batni too have offered a part of shareholding — 1.6 million shares, 1.8 million shares and 25,000 shares respectively. As have most of the big financial investors in Infy, like Deutsche Bank Securities, JP Morgan Securities, Merrill Lynch Capital Markets.
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