India’s second largest IT services company, Infosys, on Friday denied a report that the firm’s promoters had plans to sell their 12.75% in the firm.
“Infosys would like clarify reports in the media speculating on plans of stake sale by the promoters. This speculation has already been categorically denied by the promoters,” according to a company statement. “The company further reiterates that it has no information on any such development.”
The statement comes after an article appeared in a newspaper which said company founders N.R. Narayana Murthy, Kris Gopalakrishnan, Nandan Nilekani, K.Dinesh and S.D. Shibulal were looking to sell their stake in company.
When contacted by The Hindu for response on the stake sale move Mr. Gopalakrishnan in an email statement said, “I don’t comment on Infosys.”
Meanwhile, Mr. Murthy and Mr. Nilekani did not respond to the mail sent by The Hindu .
Mr. Murthy had denied the plans of stake sale in the news article and was quoted saying, “It is not true at all.”
Earlier in February and April, promoters under Mr. Murthy had questioned certain decisions taken by the company and the board. They had criticised the steep pay increase given to company’s CEO Vishal Sikka and COO Pravin Rao, and a huge severance pay offered to the former CFO Rajiv Bansal. Mr. Murthy also had raised corporate governance issues of the company.
