Infosys, one of the India's leading software exporters, today said the board of directors has approved a bonus issue of one equity share for every equity share held, and a bonus issue, viz., a stock dividend of one American Depositary Share (ADS) for every ADS held, respectively, as on a record date to be determined. Consequently, the ratio of equity shares underlying the ADSs held by an American Depositary Receipt holder would remain unchanged.
The board approved and recommended the issuance in order to increase the liquidity of its shares and to expand the retail shareholder base.
The bonus issue of equity shares and ADSs will be subject to approval by the shareholders, through a postal ballot, and any other applicable statutory and regulatory approvals. Accordingly, the record date for the bonus issues of equity shares and ADSs will be announced in due course.
Shares of the company gained Rs 204.45, or 5.61%, to trade at Rs 3,850. The total volume of shares traded was 404,500 at the BSE (10.41 a.m., Friday).