About Infosys:
Infosys Limited (formerly Infosys Technologies Limited) is an Indian multinational corporation that provides business consulting, information technology and outsourcing services. It has its headquarters in Bengaluru, India.Infosys is the second-largest Indian IT services company by 2016 revenues, and the largest employer of H-1B visa professionals in the United States. On January 12, 2017, its market capitalisation was $34.38 Billion.
Co-founded in 1981 by 7 Engineers N. R. Narayana Murthy, Nandan Nilekani, N. S. Raghavan, S. Gopalakrishnan, S. D. Shibulal, K. Dinesh and Ashok Arora after they resigned from Patni Computer Systems. The company was incorporated as "Infosys Consultants Pvt Ltd." with a capital of ₹10,000 or US$250 (equivalent to about $659 in 2016) in Model Colony, Pune as the registered office. It signed its first client, Data Basics Corporation, in New York City. In 1983, the company's corporate headquarters was relocated from Pune to Bengaluru.
Name Change: The Company changed its name to "Infosys Technologies Private Limited" in April 1992 and to "Infosys Technologies Limited" when it became a public limited company in June 1992. It was later renamed to "Infosys Limited" in June 2011.
An initial public offer (IPO) in February 1993 with an offer price of ₹95 (equivalent to ₹480 or US$7.20 in 2016) per share against book value of ₹20 (equivalent to ₹100 or US$1.50 in 2016) per share. The Infosys IPO was under subscribed but it was "bailed out" by US investment bank Morgan Stanley which picked up 13% of equity at the offer price. Its shares were listed in stock exchanges in June 1993 with trading opening at ₹145 (equivalent to ₹740 or US$11 in 2016) per share.
In October 1994, it made a private placement of 5,50,000 shares at ₹450 (equivalent to ₹2,100 or US$31 in 2016) each against book value of ₹10 (equivalent to ₹46 or 68¢ US in 2016) per share to Foreign Institutional Investors (FIIs), Financial Institutions (FIs) and Corporates.
In March 1999, it issued 2,070,000 ADSs (equivalent to 1,035,000 equity shares of par value of ₹10 (equivalent to ₹30 or 45¢ US in 2016) each) at US$34 (equivalent to $48.88 in 2016) per ADS under the American Depositary Shares Program and the same were listed on the NASDAQ National Market in US. The total issue amount was US$70.38 million.
The share price surged to ₹8,100 (equivalent to ₹24,000 or US$360 in 2016) by 1999 making it the costliest share on the market at the time. At that time, Infosys was among the 20 biggest companies by market capitalization on the NASDAQ.
During July 2003, June 2005 and November 2006, it made secondary ADS issues of US$294 (equivalent to $382.76 in 2016) million, US$1.07 (equivalent to $1.31 in 2016) billion and US$1.605 (equivalent to $1.91 in 2016) billion respectively.
In December 2002, Infosys transferred the listing of its American Depositary Shares (ADS) from the NASDAQ to the NYSE.
In July 2014, Infosys started a product subsidiary called, EdgeVerve Systems., focusing on enterprise software products for business operations, customer service, procurement and commerce network domains.
In August 2015, the Finacle Global Banking Solutions assets were officially transferred from Infosys and became part of the product company EdgeVerve Systems product portfolio.
The credit rating of the company is A- (given by Standard & Poor's on 13-Dec-2013). In February 2015, Infosys announced it would acquire the US automation technology company Panaya for around $200 million.
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