BENGALURU: SD Shibulal (Co-founder and former CEO, Infosys Limited) has announced that his family members have sold a portion of their holding in Infosys Limited on the stock exchanges on Tuesday.

The sale was executed by Cholamandalam Securities Limited as the Sole Broker.

The co-founders have nurtured the company for over three decades, transforming it into one of the most professionally-run companies in India with a global presence.

Proceeds from the partial stake monetisation will be used for a combination of personal and philanthropic activities.

The shares have not been and will not be registered under the US Securities Act of 1933, as amended (the 'US Securities Act'), or in any state or other jurisdiction of the US.

Securities may not be offered or sold in the US absent registration or an applicable exemption from the registration requirements under the US Securities Act. There has not been and there will not be any public offering of the shares in the US, as per a release.