life Insurance Corporation of India (lIC) on Saturday said it has acquired an additional two per cent stake in Infosys in over three years ending February 2017, taking its total shareholding in the Bengaluru-based software major to 7.02 per cent. The disclosure comes at a time when the company’s founders and its board have clashed over the issues of corporate governance, CEO compensation and severance pay of former CFO.
lIC, in a filing to BSE, said it has acquired about 4.63 crore shares or 2.016 per cent stake, thus taking its total holding in Infosys to 7.023 per cent. The transactions were made through market purchases between the period September 26, 2013 to February 07, 2017, it said.
lIC said that the equity share capital/total voting capital of Infosys after the deal stood unchanged at 229.6 crore shares of face value of `5. Over the last few days, Infosys has come under fire from its founders like NR Narayana Murthy, who have raised concerns on corporate governance lapses and questioned the compensation paid to CEO Vishal Sikka.