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Infy's ADS plan approved

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CIOL Bureau
New Update

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.

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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

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