Infosys Limited (formerly Infosys Technologies Limited) is an Indian multinational corporation that provides business consulting, information technology and outsourcing services. It is headquartered in Bangalore, Karnataka.
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Infosys was co-founded in 1981 by 7 Engineers N. R. Narayana Murthy, Nandan Nilekani, N. S. Raghavan, S. Gopalakrishnan, S. D. Shibulal, K. Dinesh and Ashok Arora after they resigned from Patni Computer Systems. The company was incorporated as “Infosys Consultants Pvt Ltd.” with a capital of ₹10,000 or US$250 (equivalent to about $651 in 2015) in Model Colony, Pune as the registered office. It signed its first client, Data Basics Corporation, in New York City. In 1983, the company’s corporate headquarters was relocated from Pune to Bangalore.
Infosys is the third-largest Indian IT services company by 2016 revenues, and the fifth largest employer of H-1B visa professionals in the United States in FY 2013. On 15 February 2015, its market capitalisation was ₹ 263,735 crores ($42.51 billion), making it India’s sixth largest publicly traded company.
An initial public offer (IPO) in February 1993 with an offer price of ₹95 (equivalent to ₹480 or US$7.20 in 2016) per share against book value of ₹20 (equivalent to ₹100 or US$1.50 in 2016) per share. The Infosys IPO was under subscribed but it was “bailed out” by US investment bank Morgan Stanley which picked up 13% of equity at the offer price. Its shares were listed in stock exchanges in June 1993 with trading opening at ₹145 (equivalent to ₹740 or US$11 in 2016) per share.