Narayan Murthy sells 0.13% Infosys Share
Posted on October 22, 2009
Filed Under Business & Finance, News |
Mr. Narayan Murthy, chairman and chief mentor Infosys Technologies Ltd., on Thursday sold 800,000 shares or 0.13% of the company. The step is taken to raise funds for a venture capital fund to help young entrepreneurs with brilliant ideas. The investments will be made primarily in India.
The net worth of the shares that Mr. Murthy sold Tuesday is 177 cr. After this offloading, his personal holding in the company is now 0.41 %. His wife Sudha holds 1.62% stake in the firm, while daughter Akshata and son Rohan hold 1.41% and 1.39%, respectively there by making a total of 4.83 per cent, valued at close to Rs 6,200 crore. Infosys shares closed up 2.13% at 2,211.50 rupees ($47.30) on the Bombay Stock Exchange Thursday.
Murthy is now in the brigade of Wipro’s chairman, Azim Premji, and his co-founder, N S Raghavan, and who have set up private equity and VC funds ranging between $35 million and $1 billion.
Comments
4 Responses to “Narayan Murthy sells 0.13% Infosys Share”
Leave a Reply
Nice blog.. very informative….keep writing
Thanks for your appreciation….keep visitng…and keep commenting
Venture capital is obviously is all about encouraging entreprenuer with idea minus capital. Problem is there is no honest IDEA EXCHANGE in the country and still more difficult to contact selfless figures like Mr Narayanmurthy.As a senior citizen and with a patriotic disposition I am concerned about global warming and concommitant shortage of water.All are trying to harvest water. Glaciers are melting cosequently flow of water in rivers is decreasing All big cities/civillisations by the rivers are set to doom. Costly dams of hydels would go dry.Yet water would remain a source for life and energy. How ? I shall explain to Mr Narayanmurthy and ask him to support ventures on it.Kindly Relay it to him and oblige
nice 1,keep writing such things. i m waiting for simmilar blog…