Infosys | Big gift to Infosys employees! The company opened the treasury, gave a gift of crores, know what is the reason
File Photo Mumbai: Infosys has given a big gift to the employees working for it and has given a gift that will be useful for them in future also. The deserving employees of the company will get a big boost from these incentives and rewards. Employees of IT companies not only get bonus and incentives from their company but sometimes they also get incentives in the form of equity shares for their contribution. Infosys, the country’s second largest IT company, has also taken a similar step and allotted equity shares worth crores of rupees to its eligible employees. Infosys Expanded Stock Ownership Program Infosys has allotted 5,11,862 equity shares to its employees. According to the current market price, the value of these shares is Rs 64 crore. The company says it has issued 1,04,335 equity shares under the 2015 Stock Incentive Compensation Plan. Similarly, the company has allotted 4,07,527 equity shares under the Infosys Expanded Stock Ownership Program 2019. After the allotment of shares, the expanded share capital of the company stands at Rs 2,074.9 crore. There is no lock-in period in respect of shares acquired under the Infosys Expanded Stock Ownership Program, 2019. Also read What is Market Cap This allotment is under employee related schemes of Infosys and the allotment took place last week on 12th May. Infosys Expanded Stock Ownership Program 2019 aims to increase the ownership of the employees in the company. All the employees of the company can participate in this scheme. The company says it is based on the employee’s position, performance, future prospects in the company and other conditions decided by the administrator. The company says that the vesting period of the restricted stock units shall not be less than one year and may be extended up to a maximum of three years. Infosys is the seventh largest company in the country in terms of market cap. The market cap of the company is Rs 1,690,076.41 crore. Mukesh Ambani’s company Reliance Industries is at number one in this list. Tata group company TCS is second, HDFC Bank third, ICICI Bank fourth, HUL fifth and ITC sixth.