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 Times of India had reported the founders were exploring such a sale, citing people familiar with the developments, although it carried a denial from one founder, Narayana Murthy.
Infosys "has no information on any such development," the company said in a statement, adding that the "speculation has already been categorically denied by the promoters."
Mr Murthy has also criticised pay hikes given to chief executive Vishal Sikka and operations chief Pravin Rao, and severance payouts given to executives, including former finance head Rajiv Bansal.
Mr Sikka has said that Infosys was likely to struggle to reach its ambitious $20 billion revenue target by 2020 due to a "challenging environment".
Infosys was founded in 1981 by seven engineers, including Narayana Murthy (first from left)
"The business situation for IT companies remains uncertain. That's a larger concern than that of promoters trying to walk out of the company," Mr Choksey said.
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