Date:14/04/2004 URL: http://www.thehindubusinessline.com/2004/04/14/stories/2004041402590100.htm

Back Shareholders, employees thrilled at `Billion Dollar Day' gift

Our Bureau

A person, who invested Rs 95 per share, when the software firm went public in 1993, would have seen his share value exceed Rs 80,000 in just a decade. The company has issued four bonuses till now.

TEAM INFOSYS: Mr N.R. Narayana Murthy, Chairman and Chief Mentor, Infosys, Mr Nandan Nilekani, CEO and Managing Director, along with top officials on their way to announce the annual results in Bangalore on Tuesday. — G.R.N. Somashekar

Bangalore , April 13

SHAREHOLDERS and employees of Infosys Technologies are thrilled at the bounty showered on them by the company on topping the billion-dollar mark in revenues.

The mood was upbeat at the Infosys' Campus here as the men in blue rejoiced following breaching a new landmark.

Addressing Infoscians, their parents and several well-wishers at the company's Billion Dollar Day celebration, the Chairman and Chief Mentor, Mr N.R. Narayana Murthy, traced the evolution of the company.

He detailed his efforts in shaping the founder members' dream through initial seed capital, $250, borrowed from the family and thanked fellow professionals for their contribution to the growth of the company.

Shareholders, who stand to gain the most, are ecstatic at the company's largesse.

"I am thrilled and feel that I have exceeded my dreams," said Mr Naveen Fernandes, a shareholder. "It's awesome. I was expecting a 1:1 bonus, but the company has given much more both in terms of bonus and dividends," he said adding that, "this is investor friendliness and corporate governance of the highest order".

A person, who invested Rs 95 per share, when the software firm went public in 1993, would have seen his share value exceed Rs 80,000 in just a decade.

The company has issued four bonuses till now. An investor, who owned a single share in 1993, would hold 16 shares now. Following this bonus issue, the investor's holding will swell to 64 shares, the Chief Financial Officer, Mr T.V. Mohandas Pai, told at a press conference.

``We are rewarding our shareholders for the trust they placed in us," Mr. Pai said.

Analysts were stunned by the magnitude of bonus issue. "It's incredible... the company has come a long way in rewarding shareholders. It's creating a history of sorts," a technology analyst with a foreign brokerage said.

Infosys has not lagged behind in rewarding its employees.

The company has given a one-time bonus of $1000 to each employee along with specially designed Titan watch, which shows world time and a T-Shirt with a billion dollar mark logo. "We have designed this special watch with Titan for six months and have spent Rs 6 crore on it," said Mr Pai. "It's party time for us... living life full size in Infosys," quipped 24-year-old Infoscian, Mr Karthik. The company had organised a show by Kumar Sanu and Alka Yagnik to celebrate the Billion Dollar Day.