Infosys Share Price Below ₹ 1307, Sell Every Bounce – Neal Bhai Reports
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
Mobile No. 9582247600 & 9899900589
Infosys was established by 7 engineers in Pune, India with an initial capital of $250 in 1981. It was registered as Infosys Consultants Private Limited on July 2, 1981. In 1983, it relocated its office to Bengaluru, Karnataka, India.
Name Change: The company changed its name to Infosys Technologies Private Limited in April 1992 and to Infosys Technologies Limited when it became a public limited company in June 1992. It was later renamed to Infosys Limited in June 2011..
Share listing: An initial public offer (IPO) in February 1993 with an offer price of ₹95 (equivalent to ₹490 or US$7.30 in 2017) per share against book value of ₹20 (equivalent to ₹100 or US$1.50 in 2017) per share. The Infosys IPO was under subscribed but it was “bailed out” by US investment bank Morgan Stanley which picked up 13% of equity at the offer price. Its shares were listed in stock exchanges in June 1993 with trading opening at ₹145 (equivalent to ₹750 or US$11 in 2017) per share.
Its shares were listed on NASDAQ in 1999 through ADR route. The share price surged to ₹8,100 (equivalent to ₹25,000 or US$370 in 2017) by 1999 making it the costliest share on the market at the time. At that time, Infosys was among the 20 biggest companies by market capitalization on the NASDAQ. The ADR listing was shifted from NASDAQ to NYSE Euronext to give its European investors better access to its stock.
