Sunday, Jun 09, 2002
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By Preeti Mishra
BANGALORE, JUNE 8. Following the Reserve Bank of India's clearance to increase the foreign institutional investments in Indian companies from 49 per cent to 100 per cent, the shareholders of Infosys approved the company's decision to allow increased FII presence within the company.
Defending the company's stance,`` We must welcome the Government's move to leverage FII for strengthening the company. Since Infosys is moving towards a globalised business model in a globalised economy, it is the right step for Infosys to increase FII presence,'' Narayana Murthy, Chairman and Chief Mentor, Infosys said.
Allaying the fears of shareholders, Mr. Murthy said the directors had no plans to sell Infosys. ``We have to play the game with consistency and not take one stand on one issue and another in a different aspect. Shareholders should not be concerned about this decision,'' he added.
Incidentally, Infosys has over 150 employees from 25 different nationalities. ``The company will be increasingly multicultural and this ties up with our strategy to be a truly globalised IT consulting firm,'' emphasised Nandan Nilekani, CEO and managing director, Infosys.The firm will herald new changes within the company through its `Infy Plus' Internal Integrated Change programme. This includes budget allocation for exploring new verticals like lifesciences and pharmaceuticals, lateral recruitments and services segmentation like increased focus on package implementation services. The directors and shareholders extended Mr.Murthy's tenure to another five years.
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