Monday, March 17, 2025 | 01:56 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Infosys loses 44% of its investment in Panaya, may see further erosion

Panaya was the first buy under then CEO Vishal Sikka

infosys
Premium

Debasis Mohapatra Bengaluru
Infosys, the country’s second-largest IT services company, on Thursday said the fair value of its subsidiary Panaya at the end of 2017-18 stood at $130 million, a sharp drop of 44 per cent of the investment the company had made in the Israeli automation company.

In a regulatory filing with the Securities and Exchange Commission (SEC), the regulator in the US, the company, basing itself on its negotiations with prospective buyers, said it might see a further erosion in Panaya’s fair value.

Earlier this year, Infosys has put Panaya and another acquisition, Skava, on the block, saying the subsidiaries didn’t

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in