Infosys allots 6.57 lakh equity shares to top-performing employees under two schemes: Details here

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.

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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. 

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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.

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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.