About Infosys
Infosys Limited
Infosys Limited is an Indian multinational information technology company that provides business consulting, information technology and outsourcing services. The company was founded in Pune and is headquartered in Bangalore.[5] Infosys is the second-largest Indian IT company after Tata Consultancy Services by 2020 revenue figures and the 602nd largest public company in the world according to Forbes Global 2000 ranking.[6] The credit rating of the company is CRISIL AAA / Stable / CRISIL A1+ (rating by CRISIL).[7]
On 24 August 2021, Infosys became the fourth Indian company to cross $100 billion in market capitalization.[8][9]
History
Infosys was founded by seven engineers in Pune, Maharashtra, India with an initial capital of $250 in 1981.[10] It was registered as Infosys Consultants Private Limited on 2 July 1981.[11] In 1983, it relocated its office to Bangalore, Karnataka, India.
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.[12]
An initial public offering (IPO) was floated in February 1993 with an offer price of ₹95 (equivalent to ₹580 or US$7.80 in 2020) per share against a book value of ₹20 (equivalent to ₹120 or US$1.60 in 2020) per share. The IPO was undersubscribed but it was "bailed out" by US investment bank Morgan Stanley, which picked up a 13% equity stake at the offer price.[13] Its shares were listed in June 1993 with trading opening at ₹145 (equivalent to ₹890 or US$12 in 2020) per share.[14]
Infosys shares were listed on the Nasdaq stock exchange in 1999 as American depositary receipts. It became the first Indian company to be listed on Nasdaq. The share price surged to ₹8,100 (equivalent to ₹30,000 or US$390 in 2020) 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.[13] The ADR listing was shifted from Nasdaq to NYSE Euronext to give European investors better access to the company's shares.[15]
On 28 July 2010, then British Prime Minister David Cameron visited Infosys HQ in Bangalore and addressed Infosys employees.
Its annual revenue reached US$100 million in 1999, US$1 billion in 2004 and US$10 billion in 2017.
In 2012, Infosys announced a new office in Milwaukee, Wisconsin, to serve Harley-Davidson, being the 18th international office in the United States. Infosys hired 1,200 United States employees in 2011, and expanded the workforce by an additional 2,000 employees in 2012. In April 2018, Infosys announced expanding in Indianapolis, Indiana. The development will include more than 120 acres and is expected to result in 3,000 new jobs—1,000 more than previously announced.
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.[20]
Products and services
Infosys provides software development, maintenance and independent validation services to companies in finance, insurance, manufacturing and other domains.[21]
One of its known products is Finacle which is a universal banking solution with various modules for retail and corporate banking.[22]
Its key products and services are:
- NIA – Next Generation Integrated AI Platform (formerly known as Mana)
- Infosys Consulting – a global management consulting service
- Cloud-based enterprise transformation services[23]
- Infosys Information Platform (IIP) – Analytics platform
- EdgeVerve Systems which includes Finacle, a global banking platform
- Panaya Cloud Suite
- Skava – now rebranded as Infosys Equinox
- Engineering Services[24]
- Digital Marketing[25]
List of Infosys CEOs[edit]
| Portrait Picture | Name | Period |
|---|---|---|
.JPG) | Narayan Murthy | 1981 to March 2002 |
 | Nandan Nilekani | March 2002 to April 2007 |
 | Kris Gopalakrishnan | April 2007 to August 2011 |
 | S. D. Shibulal | August 2011 to July 2014 |
 | Vishal Sikka | August 2014 to August 2017 |
 | UB Pravin Rao (interim) | August 2017 to December 2017[62] |
 | Salil S. Parekh | January 2018 onwards[64] |
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