Wednesday, Apr 14, 2004
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BANGALORE, APRIL. 13. As Infosys turned a $1 billion IT firm today and rewarded its shareholders with bonus shares and dividend, a person who bought it at Rs. 95 per share, when the software firm went public in 1993, would have seen his share value go up to Rs. 80,000 in just a decade. ``We are rewarding our shareholders for the trust they placed in us, when all the financial institutions and banks turned us away,'' Infosys Chief Financial Officer, T. V. Mohandas Pai, said, explaining how the software firm's value had grown over the years. A nostalgic Infosys founder, Chairman and Chief Mentor, N. R. Narayana Murthy, however, recalled that two government agencies — the Karnataka State Financial Corporation and Karnataka State Industrial Investment and Development Corporation Ltd — pitched in with Rs. 24 lakhs in the fledgling venture during the late 1980's and early 1990's.
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