INDIA: Indian multinational corporation Infosys has recently announced the allotment of 5,11,862 equity shares to its employees under the employee stock ownership (ESOP) scheme. The shares were allotted on May 12, 2023, according to the regulatory filing submitted by the company.
The ESOP scheme allows eligible employees to own a portion of the company’s stock and is considered a vital tool for retaining and motivating employees. The scheme helps align the interests of employees with those of the company, as they have a direct stake in the company’s growth and success.
The allotment of equity shares includes 1,04,335 under the 2015 Stock Incentive Compensation Plan and 4,07,527 under the Infosys Expanded Stock Ownership Program 2019. Following this allotment, Infosys’s issued and subscribed share capital now stands at Rs 20,749,373,460/- divided into 4,149,874,692 equity shares of Rs 5 per share.
Infosys recorded a consolidated net profit of Rs 6,128 crore for the quarter ending in March, a fall of 7% quarter over quarter. The profit increased 7.8% annually, while the period’s revenue totalled Rs 37,441 crore, down 2.3% QoQ but up 16% YoY.
Allotting equity shares to employees under the ESOP scheme is a positive development for Infosys, reinforcing the company’s commitment to its employees. It also helps the company retain top talent and incentivizes employees to work towards its growth and success.
Infosys is one of India’s leading multinational corporations, providing business consulting, information technology, and outsourcing services to clients worldwide. The company has a strong presence in India and is recognized as a leading employer. With the allotment of equity shares under the ESOP scheme, Infosys has shown that it values its employees and is committed to their growth and success.