Did you know that Infosys receives more than 20 lakh job applications every year? This is more than the population of 95% of the individual cities in India. Here are 10 mind-blowing facts highlighting the journey of Infosys.
This article covers:
- Fact No. 1: Started with a loan
- Fact No. 2: An IT company without a computer for 2 yrs
- Fact No. 3: First employee at Infosys
- Fact No. 4: Rising from a shutdown crisis
- Fact No. 5: The undersubscribed IPO
- Fact No. 6: Getting listed on NASDAQ
- Fact No. 7: Subsidiary caters to a billion people with only 1 product
- Fact No. 8: A massive training centre at Mysore
- Fact No. 9: A huge empire
- Fact No. 10: Giving back to the society
Fact No. 1: Started with a loan
In 1981, Narayana Murthy borrowed Rs 10,000 from his wife to start Infosys with 6 of his colleagues from his past employer, Patni Computer Systems. Although the registered office was N S Raghavan’s house, the front room of Narayana Murthy’s home became their first office.
Fact No. 2: An IT company without a computer for 2 yrs
Until 1983, Infosys did not have a computer. Murthy could not afford to import Data General 32-bit MV8000, a computer that he liked. It took them almost 2 yrs to get a computer.
Fact No. 3: First employee at Infosys
Knowing that Narayana Murthy is one of the founders of Infosys Ltd, you might think he was the first employee. In fact, N S Raghavan was the first employee. Murthy took about a year to finish all his tasks at Patni Computer Systems and then join Infosys.
Fact No. 4: Rising from a shutdown crisis
In 1989, Infosys’ joint venture with a US partner Kurt Salmon Associates collapsed. During the same time, one of the co-founders, Ashok Arora, quit. Hence, Narayana Murthy stepped in and took charge of the company. The rest of the co-founders stuck with him till the end. No one had an idea that Infosys Ltd would become an IT service giant.
Fact No. 5: The undersubscribed IPO
When the country was still trying to recover from the biggest financial scam of 1992, Infosys risked going public in 1993. Its IPO was 13% undersubscribed. However, the company has generated manifold returns for its investors. For instance, if you had bought 100 shares in 1993, you would hold 10,24,000 shares today considering the share splits and bonus shares announced so far. In terms of value, Rs 9,500 invested (Rs 95 per share) in 1993 would have become ~Rs 1,500 lakh today when the current market price is ~Rs 1,470.
Fact No. 6: Getting listed on NASDAQ
In 1999, Infosys Limited’s revenue touched $100 mn and became the first Indian IT company to get listed on NASDAQ, a global electronic marketplace for buying and selling securities. At the time, Infosys was among the 20 biggest companies by market capitalization on NASDAQ.
Fact No. 7: Subsidiary caters to a billion people with only 1 product
Finacle, a wholly-owned subsidiary of Infosys Ltd, is an industry-leading digital banking solution from EdgeVerve Systems. It is used by banks in over 100 countries across the world catering its services to more than a billion consumers and about 1.3 bn accounts. ICICI Bank is one of its clients.
Fact No. 8: A massive training centre at Mysore
The Infosys Global Education centre in Mysore has more than 200 classrooms, 400 instructors, a gym, a swimming pool, a multiplex, and much more that is spread over 370 acres of land. It is the largest in the world.
Fact No. 9: A huge empire
With their presence in 46 countries, 40 yrs of experience, more than Rs 90,000 cr in revenue, Infosys Limited has built a huge empire. It has a market capitalization of over Rs 5 lakh cr, which makes it the 4th largest company in India. It was even ranked number 3 on the 2019 Forbes ‘World’s Best Regarded Companies’ list.
Fact No. 10: Giving back to the society
Infosys Foundation has been involved in building over 2,500 houses in flood-affected areas, more than 15,000 restrooms, over 60,000 libraries, and provided food to 1.4 mn school children. Apart from this, to elevate the prestige of science & research in India, the foundation annually gives an award to honour outstanding achievements with a prize of Rs 73 lakh.