As per media reports, four of Infosys founders’ and their family members have sold around 32.6 million shares worth around USD 1.1 billion through a block deal in the open market.

Infosys founders N.R. Narayana Murthy, S.D. Shibulal, Nandan Nilekani and K. Dinesh and family members including Kumari Shibulal, Deeksha Dinesh, Asha Dinesh, Akshata Murthy, Sudha Murthy, Rohini Nilekani, Divya Dinesh sold their holdings in India’s second largest IT company.

Commenting on the same, N.R. Narayana Murthy, founder, Infosys, said, ''Our family has sold a minor part of our stake to continue various activities including our efforts to encourage entrepreneurship and our personal philanthropic efforts. These are activities that I expect to be busy with during the next phase of my life. Even after this sale our family continues to be the largest shareholder among retail shareholders. We have tremendous confidence in the future of Infosys and its leaders.''

Shares of the company declined Rs 95.7, or 4.62%, to trade at Rs 1,974. The total volume of shares traded was 1,758,356 at the BSE (1.17 p.m., Monday).