Bangalore, Jul 1: Infosys, which has set many records in the industry in the past, has come up with an unprecedented and innovative way of celebrating the company's 30th birthday - by gifting its employees shares of the company.
The birthday bonanza is set to make all the Infosians smile as they would all receive five shares of the company. In addition to this, each employee will be getting one share each for the number of years they have worked for the company.
The gift will be given to all employees of Infosys and its subsidiaries, who are on the rolls of the company as of Mar 31, 2010, and who are not under the notice period and are in the rolls of the company on the distribution date.
However, the company's founders and board members will not be eligible for the gift, the company said in a statement.
As of Wednesday, Jun 30, Infosys share price stood at Rs 2,790. So every employee will be getting a minimum of Rs 14,000.
In in 1993, Infosys became one of the first Indian companies to grant stock options to its employees. However, this is the first time, it has given it out as a 'return gift' to the employees on the occasion of the company's 30th birthday.
Five years ago, when the company turned 25, all the employees were given a cash reward.