In a filing made to the stock exchanges on Friday, Infosys said Rohini Nilekani, wife of company co-founder Nandan Nilekani, had sold 5.77 lakh shares of the company, worth about Rs. 163.52 crores. The filing said Ms. Nilekani, a promoter of the company, would utilise the proceeds for philanthropy. The shares were sold between July 16 and July 19, it added.
Following the sale, Ms. Nilekani’s stake in the company declined from 1.41 per cent to 1.31 per cent. She held 75.01 lakh shares after the sale.
The filing, which was issued in order to comply with insider trading regulations, stated that the proceeds of the share sale would be utilised for Ms. Nilekani’s initiatives in “multiple sectors” of philanthropy, including environment, water, education and e-governance.
The statement noted that although Ms. Nilekani has been categorised as a “promoter”, neither she nor any members of her family is associated with running the day-to-day affairs of the company.
