Bangalore: As Infosys turned a USD one billion IT firm today (Apr 13, 2004) and rewarded its shareholders with bonus shares and dividend, a person who invested Rs 95 per share, when the software firm went public in 1993, would have seen his share value at Rs 80,000 in just a decade.

"We are rewarding our shareholders for the trust they placed in us, when all the financial institutions and banks turned us away," Infosys Chief Financial Officer T V Mohandas Pai said, explaining, how the software firm's value had grown over the years.

A nostalgic Infosys founder Chairman and Chief Mentor N R Narayana Murthy however recalled that two Government agencies Karnataka State Financial Corporation (KSFC) and Karnataka State Industrial Investment and Development Corporation Ltd (KSIIDC) pitched in with help of Rs 24 lakhs in the fledgling venture during late 1980's and early 1990's.

Infosys announced three bonus share for each share held, besides a total dividend of Rs 115 (2300 per cent on a face value of Rs 5 per share).

Just after Infosys went public it earned revenues of USD 10 million and a few years in 1999, it became first Indian firm to list on the US Nasdaq stock market and came out with a second ADS (American Depository Shares) listing last year.

Infosys has announced five bonus shares and one stock split since its domestic listing and each share in 1994 has become 64 shares now.