This transaction is also linked to the SD Shibulal family member who is connected to Infosys since its birth.
Shruti Shibulal has purchased shares worth Rs 494.46 crore in Infosys, the Bengaluru-based IT giant co-founded by Narayana Murthy. Through an open market transaction, Shibulal acquired 29,84,057 shares at an average price of Rs 1,657 per share, according to block deal data on the National Stock Exchange (NSE).
Who Is Shruti Shibulal?
According to media reports, Shruti Shibulal is one of the promoters of Infosys and the daughter of SD Shibulal, co-founder and former CEO of the company. She currently serves as the CEO and director of Tamara Leisure Experiences, a hospitality brand that operates resorts and hotels in South India and has business interests in Germany.
She is a Columbia Business School graduate and also involved actively in philanthropy. She serves as a trustee for the Advaith Foundation and the SD Foundation, organizations dedicated to providing educational opportunities and healthcare assistance to underprivileged communities. She is also a trustee of the Women’s Education Project (WEP).
Shibulal Family Connection
Interestingly, Gaurav Manchanda, a family member of SD Shibulal, divested the same number of shares at the same price in a parallel transaction.
As of March 11, Infosys had a market capitalization of Rs 6.88 lakh crore, reaffirming its position as one of India’s leading IT companies. However, shares of Infosys closed 2.02% lower on Tuesday at Rs 1,667 apiece on the NSE.