Infosys denies founders looking to sell their stake,share prices fall

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Infosys denies founders looking to sell their stake,share prices fall

Infosys on Friday denied a media report that the founders of india's second-biggest software services exporter were looking to sell their entire 12.75 per cent stake in the company .

The India times today had reported the founders were exploring such a sale.citing people familiar with the developments ,although it carried a denial from one founder,Narayan Murthy.

Infosys "has no information on any such development," the company said in a statement,adding that the "speculation has already been categorically by the promoters."

Infosys shares closed 0.82 per cent lower,after earlier falling as much as 3.5 per cent.

Infosys founders,' led by Mr murthy ,have publicly accused the company's board of lapses in corporate governance,forcing the company to appoint a co-chairman to the board and a$2 billion payout to shareholders in the financial year to march 2018.

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