Infy files 'shelf registration' with US regulators

Infosys Technologies, India’s second-largest software exporter, has filed a ‘shelf registration’ with the US regulators, seeking approval to sell new securities. The registration will make the company ready for the sponsored American Depository Shares (ADS) it plans to issue , a senior company official said.

“It is similar to the ADR (American Depository Receipts) we issued in 2006. Since our existing registration is expiring in November, this filing is to update the existing registration,” V Balakrishnan, CFO of the Bangalore-headquartered company, said. He, however, added that the company did not have any immediate plan as to when to go for the sponsored ADS.

In an earlier filing with the US Securities and Exchange Commission (SEC), Infosys had said that shareholders might sell ADS with each ADS offered representing one equity share in Infosys. The company’s ADS on Wednesday ended 1.1 per cent higher than the previous day’s close.