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New Delhi, Bangalore: Just a month after Infosys chairman and chief mentor NR Narayana Murthy offloaded 0.13% of his stake in Infosys worth Rs 174 crore to set up a venture capital fund, his wife Sudha N Murthy has sold 22% of her stake in the company. Sudha offloaded 2 million shares worth Rs 430 crore on Thursday to support Murthy’s venture capital fund.
However, the company has said the Murthys have confirmed they did not plan to raise further capital for the fund.
In a related development, the company’s CEO S Gopalakrishnan has purchased 4,00,000 shares of the company from the market on Thursday for Rs 86.6 crore, taking his total holding to 6.7 million shares in Infosys. Gopalakrishnan and his family hold a 3.34% stake in Infosys. The company’s stock ended down 0.7% at Rs 2,223.10 at the Bombay Stock Exchange on Thursday.
Christened catamaran, the VC fund will encourage and support young entrepreneurs to convert their brilliant business ideas into reality. The idea is to help people across sectors such as healthcare, retail and technology with early stage investments, Narayana Murthy said in an earlier statement. “NR Narayana Murthy has informed the company that the proceeds of the sale will be used as a corpus for the Venture Capital Fund,” said a company statement.
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