The ADR listing was shifted from Nasdaq to NYSE Euronext to give European investors better access to the company's shares. At that time, Infosys was among the 20 biggest companies by market capitalization on the Nasdaq. The share price surged to ₹8,100 (equivalent to ₹30,000 or US$370 in 2020) by 1999, making it the costliest share on the market at the time. It became the first Indian company to be listed on Nasdaq. Infosys shares were listed on the Nasdaq stock exchange in 1999 as American depositary receipts (ADR). Its shares were listed in June 1993 with trading opening at ₹145 (equivalent to ₹890 or US$11 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. Īn initial public offering ( IPO) was floated in February 1993 with an offer price of ₹95 (equivalent to ₹580 or US$7.30 in 2020) per share against a book value of ₹20 (equivalent to ₹120 or US$1.50 in 2020) per share. It was renamed Infosys Limited in June 2011. 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. In 1983, it relocated to Bangalore, Karnataka. It was registered as Infosys Consultants Private Limited on 2 July 1981. Infosys was founded by seven engineers in Pune, Maharashtra, India. On 24 August 2021, Infosys became the fourth Indian company to reach $100 billion in market capitalization. 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 the Forbes Global 2000 ranking. The company was founded in Pune and is headquartered in Bangalore. Infosys Limited is an Indian multinational information technology company that provides business consulting, information technology and outsourcing services.
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