Infosys Allots 5.11 Lakh Shares to Employees Under ESOP

Infosys allots 5.11 lakh equity shares to top-performing employees as reward.

On May 14, 2023, Infosys said in its regulatory filing that the company had allotted 5,11,862 shares to its employees under an employee stock ownership (ESOP) scheme. The shares were allotted on May 12, 2023.

The regulatory filing states, “It is hereby notified that the company has allotted 5,11,862 shares on May 12, 2023, subject to the exercise of restricted stock units by eligible employees as follows:

1,04,335 shares in the 2015 Stock Incentive Compensation Plan;

4,07,527 shares under the Infosys 2019 Expanded Stock Ownership Programme.

Accordingly, on May 12, 2023, the company’s issued and subscribed share capital was increased to Rs 20,749,373,460, divided into 4,149,874,692 equity shares of Rs 5 per each.

The stock made a 52-week high of Rs 1,672.45 on December 1, 2022. The stock came under heavy selling pressure after the company reported its March quarter results in April. On April 25, 2023, the stock touched a 52-week low of Rs 1,215.45.

For the March quarter, Infosys reported a 7% QoQ decline in consolidated net profit at Rs 6,128 crore for the quarter ended March 2023 (Q4FY23). On an annual basis, profits rose 7.8%. Revenue for the period stood at Rs 37,441 crore, down 2.3% quarter-on-quarter and up 16% year-on-year.

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