Foreign binge: investors hike Infosys stake

Foreign shareholding, including that of non-resident Indians and overseas corporate bodies, in Infosys has moved up by a further 3.8 per cent to 56.35 per cent at the end of March 31, 2006 against 52.55 per cent at the end of March 31, 2005.

On the other hand, as is the practice advocated by Infosys' chief mentor of sharing wealth, the promoters have shed a further 2.26 per cent stake to hold around 19.5 per cent at the end of March 31, 2006 against 21.76 per cent as on March 31, 2005.

Even as the stock scales new high on the bourses, public holding has come down by 3.53 per cent to 15.48 per cent by March 31, 2006 against 19.01 by end of March 31, 2005. The major driver for the hike in overseas holding was the sponsored secondary ADR, which Infosys floated in May 2005.

Among the FIIs, HSBC Global Investment Funds is the new entrant in Infosys with 1.31 per cent stake. In early 2005, majority of Infosys stock moved into the hands of overseas investors and since then this percentage has been moving up.

The interest shown by overseas investors have since been rewarded as Infy has been moving up on the Nasdaq as well in the recent past, touching a five-year high at a little over $85.