The Founders & Families Classified as Promoters Group Held 29.28 Crore Shares, or 12.75%, in Infosys at the End of June 2017.
Infosys Promoters, Including Iconic Co-Founders N.R. Narayana Murthy & Nandan Nilekani, have Offered to Sell as Many as 1.77 Crore Shares Worth Up to ₹2,038 Crore in the Company’s ₹13,000 Crore Buyback Offer.The Promoters Group, which includes Most of the Founders & their Families who have Expressed their Intention to be Part of the Company’s 1st Buyback Plan in its over 3 Decade History & have Offered to Tender a Maximum of 1.77 Crore Shares.
At a Buyback Price of ₹1,150 per Share, this could mean a Windfall of ₹2,038.94 Crore for the Promoter Group, if all the Shares Tendered by them are Accepted in the Buyback Offer.
The Founders & Families Classified as Promoters Group, held 29.28 Crore Shares, or 12.75%, in Infosys at the End of June 2017.
The Bengaluru-Based Firm has been in the Eye of a Storm over the past Few Months, with Founders & Erstwhile Board Members Clashing over Allegations such as Corporate Governance Lapses & Irregularities in Infosys’ $200-Million Panaya Acquisition.The Spat often in Public, Culminated in the Sudden Resignation of the then CEO Vishal Sikka & Exit of 4 Board Members, Including Chairman R. Seshasayee. They Blamed Mr. Murthy’s “Misguided Campaign” for Mr. Sikka’s Abrupt Exit.
Infosys, on August 24, Named Co—Founder Mr. Nilekani as its New Non-Executive Chairman, Bowing to the Demands of Co-Founders & Large Institutional Investors.
However, the Tensions between the 2 Camps do not seem to be Subsiding as Mr. Seshasayee Launched another Offensive last Week against Alleged “Personal Attacks” by Mr. Murthy.Infosys’ Buyback Offer of Up To 11.3 Crore Shares Comes at an Almost 25% Premium over Friday’s Closing Price of ₹920.10 a Share. The Record Date is Expected to be on or after October 25, 2017.
The 2 Key Players in Infosys’ Changing Narrative, Mr. Nilekani & Mr. Murthy along with Families have Offered to Tender Maximum Number of Shares in the Buyback.Mr. Nilekani, along with Family, has Offered to Tender 58 Lakh Shares. Murthy, along with Wife Sudha & 2 Children, have put Over 54 Lakh Shares on the Block.
S. Gopalakrishnan & Family have Offered 22 Lakh Shares while in the Case of K. Dinesh, the Number Stands at 29 Lakh.
Sudha Gopalakrishnan, Wife of S. Gopalakrishnan, currently Holds the Largest Share in Individual Capacity among Promoters Group Members with 2.14 % Shareholding.
S.D. Shibulal will not Participate in the Buyback per se, but his Wife & Son have Offered to Sell over 14 Lakh Shares.