Infy promoter wealth rises to Rs 979 cr

 Even as Infosys shares closed up more than 4.4 per cent on Monday, following the return of co-founder and former CEO N R Narayana Murthy as executive chairman of the company, the collective wealth of the founders soared to Rs 979 crore.

Harvard-educated Rohan Murty, handpicked by his father as his new executive assistant, was richer by $13.35 million dollars, making him the fifth richest person among promoters of the company, currently capitalised at Rs 1,44,360 crore.

The Murthy family collectively owns 4.47 per cent stake in Infosys, making it the company’s biggest shareholder.

With Rohan’s 1.38 per cent stake comprising 79,49,782 shares as of March 31, 2013, he holds the second highest stake in the Murthy family after his sister Akshata who holds 1.41 per cent (81,06,412 shares).

Based on Monday's closing price of Rs 2,513.95 on the BSE, Rohan’s holdings in Infosys translated into Rs 1,998.53 crore or $352.10 million.

Besides, 31-year-old Rohan will receive a dividend of Rs 21.46 crore based on the Rs 27 per share final dividend recommended for 2012-13. And, if one is include the interim dividend of Rs 15, Rohan’s total payout will Rs 33.38 crore. That amounts to a lot when considering the fact that dividend payments to shareholders are tax-free in India.

Token remuneration

Not surprisingly, Rohan had indicated his preference to emulate his father by opting for a token remuneration of Re 1 per annum during his tenure as his executive assistant.
His mother Sudha holds 1.27 per cent, or 73,14,660 shares, in Infosys, while Murthy holds the lowest stake among the quartet at 23,79,672 shares as of March 31, 2013.

Sudha Gopalakrishnan, wife of co-founder and vice-chairman Kris Gopalakrishnan, is the richest of the promoters with 1,22,94,625 shares or 2.14 per cent valued at Rs 3,090.80 crore. The second richest is co-founder Nandan M Nilakeni, who holds 1.45 per cent stake, or 83,45,870 shares valued at Rs 2,098.10 crore.

Two days after Murthy’s re-entry into the company, the overall value of the promoter stakeholdings of 16.04 per cent comprising 9.20 crore shares in Infosys stood at Rs 23,149.72 crore, up from Rs 22,170.40 crore as on May 31, 2013.

Ironically, Infosys shareholders saw only a notional gain in their share value on a day when the BSE benchmark index declined 150 points due to the HSBC Manufacturing Purchasing Managers' Index, which measures business activity in Indian factories, falling to 50.1 in May from 51 in April, its third straight monthly fall.