NEW DELHI: The government has approved on Monday a
plan by Infosys Technologies Ltd, to boost its number of American Depositary
Shares to between 6.27 percent and 7.78 percent of its capital.
Right now, the Bangalore-based software blue chip company
has American Depositary Shares amounting to 3.25 percent of its
capital, a statement by the Commerce and Industry Ministry
said.
In December, the Nasdaq-listed Infosys's board approved the conversion of two to three million equity
shares into American Depositary Shares, a move seen as boosting
the local stock.
© Reuters