Infosys shares fall 3 pct as founders said to sell shares

Shares in India’s Infosys Ltd  fell 3 percent in pre-open trading on Monday following reports that some of its founders were selling shares in the software services exporter worth $1.1 billion.

Four of the founders of Infosys are offering 32.6 million shares in Infosys at a fixed price of 1,988 rupees each, a 4 percent discount to Friday’s close, IFR, a Thomson Reuters publication said.

Deutsche Bank is the sole book runner of the sale and the books were covered just after the launch, said Thomson Reuters publication IFR. It named the founders as Narayana Murthy, Nandan Nilekani, S.D. Shibulal and K. Dinesh.

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