Infosys @ Latest News: Infosys set to complete 2nd sponsored ADS

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Wednesday, May 25, 2005

Infosys set to complete 2nd sponsored ADS

Second American Depository Share issue for Infosys to rake up Rs 1538 crore from stakes sold by directors and promoters. It elicited warm response from frontline overseas buyers including Japanese investors.

Infosys management accounted for nearly 37 % of the issue. Infosys founder and Chief Mentor Narayana Murthy sold over 1.55 million shares or a 0.57% stake, raking in roughly Rs 462 crore (Rs 4.62 billion). MD & CEO Nandan Nilekani’s share was Rs 320 crore (Rs 3.20 billion) from his 0.4 % stake sale while COO S Gopalakrishnan got Rs 310 crore (Rs 3.10 billion) from participating in the issue. The cumulative amounts raised by all directors & promoters will be Rs 1538 crore (Rs 15.38 billion).