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Infosys promoters lose Rs2871 crore in notional wealth on Vishal Sikka resignation

LiveMint logoLiveMint 18-08-2017 Nasrin Sultana

Mumbai: NR Narayana Murthy apart, other founders of Infosys Ltd have been silent about the governance issues he had raised at the technology firm. On Friday, the bloodbath in the stock cost promoter-shareholders Rs2871 crore, albeit in paper wealth.

Overall, the shareholders of the technology firm lost Rs22,519.50 crore after the sell-off sparked by chief executive officer and managing director Vishal Sikka’s unexpected resignation. The Infosys stock closed 9.6% lower at Rs923.1 apiece, its biggest fall since 12 April 2013.

The promoters held 12.74% stake in the firm at the end of June split between five families.

Sudha Gopalakrishnan, wife of Kris Gopalakrishnan who had served as CEO and MD between 2007 to 2011, lost about Rs482.2 crore in notional wealth because of Friday’s share price fall. She held 2.14%, the most among individual promoters. She was followed by Rohan Murty, the son of NR Narayan Murthy, who held a 1.38% stake and lost Rs311.79 crore in Friday’s rout.

If holdings are sectioned in terms of family, then the Murthy family lost Rs774.62 crore, because it held the maximum stake of 3.44% among promoters. It was followed by the Gopalakrishnan family which saw the value of its stake plummet by Rs717.95 crore. The Nilekani familyt oo lost Rs 516.87 crore by virtue of its holding.

Murthy’s individual loss in notional wealth: Rs85.49 crore.

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