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Infosys denies reports on stake sale plans

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Infosys denies reports on stake sale plans

Infosys Ltd. denied media reports suggesting the company's promoters are considering selling their entire stake.

In a June 9 filing, the India-based company said the promoters have already categorically denied the speculation, adding it has no information on any such development.

Earlier the same day, The Times of India quoted "people familiar with the development" as saying Infosys' co-founders were exploring a sale of their entire 12.75% stake. The company's promoter group is led by co-founders N.R. Narayana Murthy and Nandan Nilekani.

Murthy denied the reports, while Nilekani declined to comment on the matter, the publication reported.