Co-founder S.D. Shibulal's Family Sell Shares of Infosys Limited

Today, one of the Co-founders of Infosys, Mr. S.D. Shibulal announced that over the last three days (22nd - 24th July) his family members have sold a portion of (representing approximately 0.20% of the paid-up equity share capital) their holding in Infosys Ltd. on the stock exchanges.

Proceeds from the partial stake monetization will be utilized for a combination of philanthropic and investment activities.

The sale was executed by Citigroup Global Markets India Private Limited as the Sole Broker.

The Founders, have served Infosys in various capacities, since its inception in 1981 until October 2014. Over the three decades, the Founders have nurtured the company transforming it into one of the professionally run companies in India with a global presence.

This press release is for information purposes only and is not an offer to sell, or a solicitation of an offer to buy, any of the shares described herein. 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 United States. Securities may not be offered or sold in the United States 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 United States.

Infosys Co-Founder Launches Incubator For Education Startups

S. D. Shibulal, better known as Shibulal, who is former CEO and co-founder of Infosys, has launched EduMentum -- an incubator for early-stage startups working in the space of offline education transformation.

EduMentum is launched in partnership between his Advaith Foundation and Mantra4Change, a Bengaluru-based NGO.

The incubator platform will offer funding of Rs 7.5 lakh per annum to each selected organisation or startup along with a series of workshops for the incubatees.

Speaking on the launch of EduMentum, Shibulal said, "EduMentum is designed to promote social entrepreneurs who are working to transform the education ecosystem. EduMentum will encourage development and use of indigenous body of knowledge in the area of school education through ShikshaLokam."

ShikshaLokam is an education leadership platform under Advaith. The Advaith Foundation was set up by Kumari Shibulal and SD Shibulal to promote philanthropic ventures in the field of education and research.

The first cohort of the programme, which has five startups, started in September last year. The startups in this program include Loop Education Foundation, Vidhya Vidhai, Samarthya, Sanjhi Sikhiya and i-Saksham.

During the end of the programme, the startups get to pitch to potential investors. The programme aims to incubate 50 organisations across different parts of the country by 2022. The next batch will start in June.

The development was first reported in Economic Times.

Notably, EduMentum is second such initiative for startups by Shibulal as earlier, In 2014 Shibula co-founded Axilor Ventures, a venture capital service for young entrepreneurs.

To recall, in December last year, Paytm too had announced the launch of startup incubator called 'Build For India' initiative.

Last month, Ratan Tata, in his ₹900 million plan, has also announced that Tata Trusts will be setting up number of lab-style startup incubators across India.

Additionally, in this month, Haryana state government has also announced the plan to set up an startup incubator called ‘Global Start-up Village’, which will be India’s biggest startup hub and will be located in Gurugram in next couple of years.

Prior to that, Kejriwal govt in Delhi has also announced to launch startup incubator in lines of T-Hub.

Infosys Co-Founders To Invest Upto $1Mn In India Startups

SD Shibulal and Kris GopalaKrishnan, the Infosys co-founders who recently passed their baton are back in the business. They have teamed together once gain to set up an incubator called Axilor Ventures. Through their incubator they wish to mentor and back early stage startups and invest upto $1 million in each startup they choose. Srinath Batni, an Infosys veteran, who had previously led the delivery operations at the company, has also joined hands with Shibulal and GopalKrishnan for Axilor.

Axilor ventures is looking forward to mentor technology focused startups in areas like healthcare, e-commerce, wearable technologies and also those companies that develop technology for sustainable business. Axilor is expected to go live from the end of November.

"We all have a fund of our own. The idea is to now jointly invest if we are excited about any startup" said Gopalkrishnan in a statement to Economic Times. He refused to divulge any details about the quantity of the investment corpus but made it clear that all the investments would either be “seed or angel”.

According to V Ganapathy Subramanian's statement to Economic Times, "We are looking to invest anywhere between Rs. 30 lakhs and Rs. 6 crore".  Subramanian has earlier been the head of planning and strategy at Infosys and is currently the CEO at Axilor Ventures. More clarity on the investment focus and the quantum of investments will only be available after the incubator is launched officially.

Infosys co-founders and Ex Top managment position holders are pouring money in Indian Startups especially in Bnagalore region as earlier, Bangalore based start-up Clonect Solutions got funding from Ex-Infosys CFOs.

According to NASSCOM, around 800 startups are launched every year in India and by 2020, there would be around 11,500 startups employing over 2.5 lakh people in India.

Infosys veterans for long have been actively participating in the booming Indian Startup sector Catamaran Ventures run by Narayana Murthy’s family is one of the examples of industry veterans taking interest in the Indian startup scene. Narayana Murthy was the former Chairman at the software services company. NS Raghavan, who is a co-founder at Infosys, has also set up Ojas Ventures, a technology investment firm which has backed startups like interactive technology developer TELiBrahma and Vizury, an internet marketing company.

Infosys Co-Founders To Invest Upto $1Mn In India Startups

SD Shibulal and Kris GopalaKrishnan, the Infosys co-founders who recently passed their baton are back in the business. They have teamed together once gain to set up an incubator called Axilor Ventures. Through their incubator they wish to mentor and back early stage startups and invest upto $1 million in each startup they choose. Srinath Batni, an Infosys veteran, who had previously led the delivery operations at the company, has also joined hands with Shibulal and GopalKrishnan for Axilor.

Axilor ventures is looking forward to mentor technology focused startups in areas like healthcare, e-commerce, wearable technologies and also those companies that develop technology for sustainable business. Axilor is expected to go live from the end of November.

"We all have a fund of our own. The idea is to now jointly invest if we are excited about any startup" said Gopalkrishnan in a statement to Economic Times. He refused to divulge any details about the quantity of the investment corpus but made it clear that all the investments would either be “seed or angel”.

According to V Ganapathy Subramanian's statement to Economic Times, "We are looking to invest anywhere between Rs. 30 lakhs and Rs. 6 crore".  Subramanian has earlier been the head of planning and strategy at Infosys and is currently the CEO at Axilor Ventures. More clarity on the investment focus and the quantum of investments will only be available after the incubator is launched officially.

Infosys co-founders and Ex Top managment position holders are pouring money in Indian Startups especially in Bnagalore region as earlier, Bangalore based start-up Clonect Solutions got funding from Ex-Infosys CFOs.

According to NASSCOM, around 800 startups are launched every year in India and by 2020, there would be around 11,500 startups employing over 2.5 lakh people in India.

Infosys veterans for long have been actively participating in the booming Indian Startup sector Catamaran Ventures run by Narayana Murthy’s family is one of the examples of industry veterans taking interest in the Indian startup scene. Narayana Murthy was the former Chairman at the software services company. NS Raghavan, who is a co-founder at Infosys, has also set up Ojas Ventures, a technology investment firm which has backed startups like interactive technology developer TELiBrahma and Vizury, an internet marketing company.