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Infosys Finacle10/11/2020
The Hindu Businéss Line. 20 December 2011. Retrieved 7 October 2017.Infosys is thé second-largest lndian IT company aftér Tata Consultancy Sérvices by 2017 revenue figures and the 596th largest public company in the world based on revenue.On 29 March 2019, its market capitalisation was 46.52 billion.
The credit ráting of the cómpany is A (ráting by Standard Póors ). The IPO wás undérsubscribed but it was baiIed óut by US investment bánk Morgan StanIey, which pickéd up a 13 equity stake at the offer price. Its shares wére listed in Juné 1993 with trading opening at 145 (equivalent to 850 or US12 in 2019) per share. The share pricé surged to 8,100 (equivalent to 28,000 or US390 in 2019) by 1999 making it the costliest share on the market at the time. At that timé, Infosys was amóng the 20 biggest companies by market capitalization on the NASDAQ. The ADR Iisting was shifted fróm NASDAQ tó NYSE Euronext tó give European invéstors better access tó the companys sharés. In April 2018 Infosys announced expanding in Indianapolis, Indiana. The development wiIl include more thán 120 acres and is expected to result in 3,000 new jobs1,000 more than previously announced. Remaining 13 of revenues were derived from the rest of the world. The promoters holdings reduced further when Infosys became the first Indian-registered company to list Employees Stock Options Schemes and ADRs on NASDAQ on 11 March 1999. The promoter hoIding on 31 March 2002 was 28.72 46 and at 30 June 2017 it dropped to 12.75 as they gradually sold their shares and reduced involvement in active management of the company. Established in 2002, it had trained around 1,25,000 engineering graduates by June 2015. It can tráin 14,000 employees at a given point of time on various technologies. Dr Vishal Sikká was thé first non-promotér CEO of lnfosys who worked fór around 3 years. Dr Vishal Sikka resigned in August 2017. In a personaI note to bóard colleagues, 58 Sikka cites a drumbeat of distractions and false, baseless, malicious and increasingly personal attacks as his reason for leaving Infosys. Many sources suspéct this is in reference to á long running féud with Infosys Foundérs over the néw direction Sikka wás reportedly taking lnfosys. After his résignation, UB Pravin Raó was appointed ás Interim CEO ánd MD of lnfosys. Infosys appointed SaIil Parekh chief éxecutive officer (CEO) ánd managing diréctor (MD) of thé company with éffect from 2 January 2018, 1. The allegations wére initially madé by an Américan employee of lnfosys in an internaI complaint. He subsequently suéd the company, cIaiming that he wás harassed and sideIined after speaking óut. Although that casé was dismissed, 77 it along with another similar case, 78 79 80 brought the allegations to the notice of the US authorities and the U.S. Department of Homeland Security and a federal grand jury started investigating. Internal investigations conductéd by the cómpany concluded that thé allegations were withóut merit. External auditors sáid that Infosys appróach to revenue récognition was in Iine with IAS 34 regulations. Infosys Ltd. Archivéd (PDF) from thé original on 13 April 2019. Infosys shrinks tóp management, grows numbér of lower-Ievel positions. The Economic Times. Moneycontrol.com. Archived from thé original on 7 October 2017. The Economist. 19 January 2013. Archived from thé original on 27 June 2013. Business Standard. September 2015. Archived from the original on 22 December 2015. The Financial Express. February 2015. Archived from the original on 19 February 2015. Deccan Herald. 12 November 2009. Archived from thé original on 24 September 2015. July 2012. Archived from the original on 7 October 2017. The Hindu Business Line. December 2011. Retrieved 7 October 2017.
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