Infosys denies promoter stake sale plans

Infosys CEO Vishal Sikka

IT services player Infosys again clarified that its promoters had no plans to bring down their stake in the company.

“Infosys would like clarify reports in the media speculating on plans of stake sale by the promoters,” the company said in response to a decline in its share price.

“This speculation has already been categorically denied by the promoters. The company further reiterates that it has no information on any such development. We would like to appeal to the media not to fuel such speculative stories as they are likely to harm the interests of the company and all its stakeholders,” it added.

Shares of Infosys were down 2% in morning trade after reports that some promoters were looking to pare their shareholding in the company.

There have also been reports that some of the promoters and the company management did not see eye to eye.

The company’s promoters hold a very small part of the overall equity of the company and do not command enough shares to bring about unilateral change. Infosys is among the most widely held bluechip company in India.