An Indian multinational information technology company, Infosys has declared that the company will be allocating more than 5.11 lakh equity shares to eligible employees.
Infosys said in the exchange filing, “This is to inform that the Company has allotted 5,11,862 equity shares on May 12, 2023, pursuant to the exercise of Restricted Stock Units by eligible employees.”
The pursuant to the exercise of Restricted Stock Units by eligible employees as hereunder:
- 1,04,335 equity shares under the 2015 Stock Incentive Compensation Plan.
- 4,07,527 equity shares under the Infosys Expanded Stock Ownership Program 2019.
Consequently, on May 12, 2023, the issued and subscribed share capital of the Company stands increased to ₹20,749,373,460/- divided into 4,149,874,692 equity shares of ₹5/- each.
Earlier, Infosys CEO and MD Salil Parekh said, “Our strong performance in FY23 is a testimony to the continued focus on digital, cloud, and automation capabilities which resonated with our clients. We have launched exciting programs with our clients leveraging generative AI platforms”.
“As the environment has changed, we see strong interest from our clients for efficiency, cost, and consolidation opportunities, resulting in a strong large deal pipeline”, Salil Parekh added.
Salil Parekh further added, “We have expanded our internal program on efficiency and cost to build a path to higher margins in the medium term. We continue to invest in our people and in supporting our clients.”
The company’s attrition rate during the fourth quarter dropped to 20.9 percent, as compared to 24.3 percent in Q3 FY23. The attrition rate in the September 2022 quarter was 27.1%. The percentage of Women Employees’ contributions as of March 31 is 39.4 percent.
The total employee count as of March 31 stood at 3,43,234, marking a drop of 3,611 employees as compared to the previous quarter. Infosys’ total employee count stood at 3,46,845 in Q3FY23.
