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Business News/ Markets / Stock Markets/  Infosys allots 6.57 lakh equity shares to top-performing employees under two schemes: Details here
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Infosys allots 6.57 lakh equity shares to top-performing employees under two schemes: Details here

Infosys share allotment to employees included 341,402 equity shares under the 2015 Incentive Compensation Plan and 315,926 shares under the Infosys Expanded Stock Ownership Program 2019.

Infosys, India’s second-largest software services provider, enjoys a market capitalisation of around ₹5.85 lakh crore. Premium
Infosys, India’s second-largest software services provider, enjoys a market capitalisation of around 5.85 lakh crore.

IT major Infosys Limited has allotted more than 6.57 lakh equity shares to eligible employees. The allotment, confirmed through a resolution on May 1, 2024, and approved the following day, was facilitated under two stock incentive plans, the company said in an exchange filing on May 3.

The allotment of shares under these schemes is to expand employees' ownership in the company and as a reward for their performance.

Also Read | TCS vs HCL Tech vs Wipro vs Infosys: Which stock to buy after Q4 results 2024?

Of the total shares allotted to employees, 341,402 equity shares were allotted under the 2015 Incentive Compensation Plan and another 315,926 shares under the Infosys Expanded Stock Ownership Program 2019. 

Also Read | Wipro, Infosys March quarter results paint gloomy outlook for FY25

India’s second-largest software services provider enjoys a market capitalisation of around 5.85 lakh crore. The company's last trading price (LTP) was around 18 per cent down from its 52-week high of 1,731. Meanwhile, it is up over 14 per cent from its 52-week low of 1,239.

Also Read | Infosys Q4 Results Highlights: Net profit at 7,975 crore, revenue up 0.2% in FY24; dividend declared

Following the latest share allotment, as of May 2, 2024, the issued and subscribed share capital of Infosys has increased to 20,75,76,23,960, divided into 4,15,15,24,792 equity shares of 5 each.

In April, Infosys reported a net profit of 7,975 crore for the fourth quarter that ended on March 31, 2024, while total revenues stood at 37,923 crore. The company's revenues in constant currency terms remained flat year-on-year and declined by 2.2 per cent sequentially.

Infosys predicted a revenue growth of 1-3 per cent in constant currency terms in FY25. Meanwhile, it estimated an operating margin of 20-22 per cent. 

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Published: 03 May 2024, 03:04 PM IST
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