Bonanza for employees as Infy celebrates 29 successful yrs

A bonanza awaits employees of Infosys and its subsidiaries as the company completes 29 years of successful operations on July 2.

Employees who meet certain criteria would be eligible for a minimum allocation of five equity shares, with an incremental allocation of one equity share for each completed year of service.

Based on today's closing price of Rs 2,788.55 on the Bombay Stock Exchange, five shares of Infosys would be worth nearly Rs 14,000.

In recognition of each Infoscion's contribution to the company’s success, trustees of the Infy Employee Welfare Trust, an independent entity, informed the company that they have decided to distribute the corpus of the trust -- held in the form of equity shares -- among the beneficiaries.

The trustees were also informed that all employees of Infosys and its subsidiaries, who are on the rolls of the company as of March 31, 2010 and who are not under the notice period and continue to be in the rolls of the company on the distribution date (the second week of August 2010), would be eligible for equity shares, an Infosys statement said.