India’s Infosys to join Nasdaq 100

The Bangalore-based software firm expects the move to bring it more global visibility.

Software programmers at work in Infosys's headquarters in Bangalore, India
Software programmers at work in Infosys's headquarters in Bangalore, India

Other Nasdaq-100 names, chosen mostly on the basis of their market worth, include Microsoft Corp, Google Inc and Dell Inc.

 

V Balakrishnan, chief financial officer at Infosys, said: “Large global index funds are always on the lookout for the best stocks … this milestone will automatically put us on their radar.”

 

Infosys’s inclusion follows the company’s sponsored secondary offering of 30 million American Depository Shares worth $1.6 billion.

 

The offering, which was closed last month, involved the sale of shares held by investors on Indian stock exchanges to investors in the US.

 

About 19 per cent of Infosys shares are now traded on Nasdaq.

Source : News Agencies

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