The shares were sold during the period 8 August to 10 August, a release from Shibulal's office said.
The sale was executed by Citigroup Global MarketsIndia Private Limited as the Sole Broker for the sale of shares.
The release said the partial monetization was done to raise proceeds for personal reasons, including for the betterment of the society through various philanthropic activities.
Even after this sale, the founder group would continueto have a substantial shareholding in the company, it added.
Shibulal was the last of seven co-founders to hold the CEO position at Infosys, from which he stepped down in July 2014.