Listing and shareholding pattern

In India, shares of Infosys are listed on the BSE where it is a part of the BSE SENSEX and the NSE
where it is a NIFTY 50 Constituent.[45] Its shares are listed by way of American depositary receipts
(ADRs) at the New York Stock Exchange.[46]

Over a period of time, the shareholding of its promoters has gradually reduced, starting from June
1993 when its shares were first listed. The promoters' holdings reduced further when Infosys
became the first Indian-registered company to list Employees Stock Options Schemes and ADRs on
NASDAQ on 11 March 1999.[47] The promoter holding on 31 March 2002 was 28.72%[48] and at 30
June 2017 it dropped to 12.75% as they gradually sold their shares and reduced involvement in
active management of the company.[49]

A building in Thiruvananthapuram campus

Shareholders (as of 30 June 2017)[50][51] Shareholding

Promoters group 12.75%

Foreign institutional investors (FII) 37.47%

ADR 16.70%

Individual shareholders 09.83%

Banks, financial institutions and insurance companies 11.24%

Mutual funds 08.97%

Others 03.04%

Total 100.00%

Employees

Infosys had a total of 243,454 employees at the end of December 2019, out of which 37.8% were
women.[26] Out of its total workforce, 229,658 are software professionals and remaining 13,796
work for support and sales.[26] In 2016, 89% of its employees were based in India.[52]

During the financial year 2019, Infosys received 2,333,420 applications from prospective employees,
interviewed 180,225 candidates and had a gross addition of 94,324 employees, a 4% hiring rate.
These numbers do not include its subsidiaries.[52]

The attrition rate of Infosys Ltd., including its subsidiaries, for the financial year 2019 was 21.5%.[52]

Training centre in Mysuru

As the world's largest corporate university, the Infosys global education centre in the 337 acre[53]
campus has 400 instructors and 200+ classrooms,[54] with international benchmarks at its core.
Established in 2002, it had trained around 1,25,000 engineering graduates by June 2015.[54] It can
train 14,000 employees at a given point of time on various technologies.[55][56]

The Infosys Leadership Institute (ILI), based in Mysuru, has 96 rooms and trains about 400 trainees
(called Infoscions) annually.[56] Its purpose is to prepare and develop the senior leaders in Infosys
for current and future executive leadership roles.

The Infosys Training Centre in Mysuru also provides a number of extracurricular facilities like tennis,
badminton, basketball, swimming pool and gym.

CEOs

Since its establishment in 1981 till 2014, the CEOs of Infosys were its promoters, with N.R. Narayana
Murthy leading the company in its initial 21 years. Dr Vishal Sikka was the first non-promoter CEO of
Infosys who worked for around 3 years.[57][58][59] Dr Vishal Sikka resigned in August 2017. In a
personal note to board colleagues,[60] Sikka cites a "drumbeat of distractions" and "false, baseless,
malicious and increasingly personal attacks" as his reason for leaving Infosys.[61] Many sources
suspect this is in reference to a long running feud with Infosys Founders over the new direction Sikka
was reportedly taking Infosys.[62][63][64] After his resignation, UB Pravin Rao was appointed as
Interim CEO and MD of Infosys.[65] Infosys appointed Salil Parekh chief executive officer (CEO) and
managing director (MD) of the company with effect from 2 January 2018,[1].[66]

Salil S. Parekh, current CEO & MD

CEOs

Name Period

Narayan Murthy 1981 to March 2002

Nandan Nilekani March 2002 to April 2007

S. Gopalakrishnan April 2007 to August 2011

S. D. Shibulal August 2011 to July 2014

Vishal Sikka August 2014 to August 2017

UB Pravin Rao (interim) August 2017 to December 2017[65]

Salil S. Parekh January 2018 onwards[67]

In 2019, Infosys was a winner of the United Nations Global Climate Action Award in 'Climate Neutral
Now' category.[68]

In 2019, Infosys was ranked as the 3rd Best Regarded Company in the World by Forbes.[69]

In 2017, HfS Research included Infosys in Winner's Circle of HfS Blueprint for Managed Security
Services, Industry 4.0 services and Utility Operations.[70][71][72]

In 2013, Infosys was ranked 18th largest IT services provider in the world by HfS Research.[73] In the
same year, it was ranked 53rd in Forbes list of World's Most Innovative Companies.[74]

In 2012, Infosys was ranked No. 19 amongst the world's most innovative companies by Forbes.[75]
In the same year, Infosys was in the list of top twenty green companies in Newsweek's Green
Rankings for 2012.[76]

In 2006, Institute of Chartered Accountants of India included Infosys into Hall of Fame for being the
winner of Best Presented Accounts for 11 consecutive years.[77]

In 2020, Infosys was ranked No. 1 in the HFS Top 10 Agile Software Development 2020 report.[78]

In 2020, Infosys was recognized as a leader in Retail and CPG Digital Services by Avasant.[79][80]

Controversies

Settlement of tax fraud in the US

In December 2019, the Attorney General of California, Xavier Becerra announced an $800,000
settlement against Infosys and its BPM (business process management) subsidiary. Close to 500
Infosys employees were working in the state on Infosys-sponsored B-1 visas instead of H-1B visas
between 2006 and 2017, as per an official post available on the website of State of California.[81]
[82]

This misclassification resulted in Infosys avoiding California payroll taxes such as unemployment
insurance, disability insurance, and employment training taxes.[83][84]

Accusation of visa fraud in the US

In 2011, Infosys was accused of committing visa fraud by using B-1 (visitor) visas for work requiring
H-1B (work) visas. The allegations were initially made by an American employee of Infosys in an
internal complaint. He subsequently sued the company, claiming that he was harassed and sidelined
after speaking out. Although that case was dismissed,[85] it along with another similar case,[86][87]
[88] brought the allegations to the notice of the US authorities – and the U.S. Department of
Homeland Security and a federal grand jury started investigating.[89]
In October 2013, Infosys agreed to settle the civil suit with US authorities by paying US$34 million.
[90] Infosys refused to admit guilt and stressed that it only agreed to pay the fine to avoid the
nuisance of 'prolonged litigation'.[91] In its statement the company said "As reflected in the
settlement, Infosys denies and disputes any claims of systemic visa fraud, misuse of visas for
competitive advantage, or immigration abuse. Those claims are assertions that remain unproven".
[92]

Displacement of American workers at Southern California Edison and Disney

In 2015, the United States Department of Labor began an investigation of Infosys after claims were
made that the company used workers with H-1B visas to replace workers at Disney and Southern
California Edison. The investigation did not find any wrongdoing.[93]

Financial Irregularities

In 2019, whistle blowers alleged irregularities in the company's financial accounting. Internal
investigations conducted by the company concluded that the allegations were without merit.[94]
External auditors said that Infosys' approach to revenue recognition was in line with IAS 34
regulations.[95]