Infosys EGM Approves Sponsored Secondary ADR Program
Bangalore, India - February 22, 2003 - The Extraordinary General Meeting (EGM) of Infosys Technologies Limited was held today in Bangalore to consider the approval of sponsored secondary ADR program. Mr. Nandan Nilekani, Chief Executive Officer, President and Managing Director, chaired the EGM.
At the EGM, the members of the company approved the sponsorship of an ADR issue in the range of 2 million to 3 million shares (equivalent to 4 million to 6 million ADRs). The pricing will be determined by the lead underwriters and all shareholders holding Indian equity shares will have a pari passu right to participate in this offering