Infosys "has no information on any such development", the company said in a statement according to Reuters, adding that the speculation has already been "categorically denied by the founders".
The newspaper had reported that the founders were exploring a sale of the 12.75% stake they hold in the company, a stake worth about Rs 28,000 crore.
The bunch of innovators that helped to kindle the IT revolution in India is planning to exit the very business that they founded, Infosys, unhappy with the way in which the company has been run by its present management, says a report.
Infosys Ltd denied a media report on Friday that the founders of India's second-biggest software services exporter were looking to sell their entire 12.75 percent stake in the company.
There have also been reports that some of the promoters and the company management did not see eye to eye.
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It named Narayana Murthy, Kris Gopalakrishnan, Nandan Nilekani, K. Dinesh and S.D. Shibulal among the promoters who were planning to sell their stake, along with the shares held by their families.
In February 2017, they wrote a letter to the board of the company questioning a slew of decisions taken by the management, including the severance package given to former chief financial officer Rajiv Bansal.
Meanwhile other founders like Mr. Murthy and Mr. Nilekani did not respond to the mail sent by The Hindu seeking comments on the stake sale.
"The business situation for IT companies remains uncertain". Murthy had also expressed displeasure over the likely layoffs at the company and suggested that senior executives should take a pay cut to accommodate more lower-rung staff.
Infosys shares were down 1.7 percent, after earlier falling as much as 3.5 percent.
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