Infosys Limited: Joint Venture Agreement

BANGALORE, India, September 2, 2016 /PRNewswire/ --

TO ALL STOCK EXCHANGES

BSE LIMITED

NATIONAL STOCK EXCHANGE OF INDIA LIMITED

NEW YORK STOCK EXCHANGE

EURONEXT LONDON

EURONEXT PARIS

September 2, 2016

Dear Sir/Madam,

Sub: Joint Venture Agreement

We would like to intimate that the Company has entered in to a Joint venture agreement with Saudi Prerogative

Company ('SPC'), in the Kingdom of Saudi Arabia to conduct IT services for customers located in the Kingdom of

Saudi Arabia. The Joint venture will be in the ratio of 70:30 (Infosys: SPC) and the agreement is subject to the

approval of Saudi Arabian General Investment Authority ('SAGIA').

Disclosure under SEBI Listing Regulations -

    Name(s) of parties with whom the agreement is Saudi Prerogative Company
    entered                                      

    Purpose of entering into the agreement        Infosys Limited and SPC to form a joint
                                                  venture in the Kingdom of Saudi Arabia
                                                  to conduct IT services for
                                                  customers in the Kingdom of Saudi
                                                  Arabia.
    Shareholding, if any, in the entity with whom No Shareholding in SPC.
    the agreement is executed                   
    Significant terms of the agreement (in brief) All rights such as Board of Directors,
    special rights like right to appoint          transfer restrictions,information rights
    directors, first right to share subscription  as information rights etc as customary
    in case of issuance of shares, right to       in customary in similar transactions.
    restrict any change in capital structure etc.                             
    Whether, the said parties are related to      No
    promoter/promoter group/ group companies in
    any manner. If yes, nature of relationship       
    Whether the transaction would fall within     No
    related party transactions? If yes, whether
    the same is done at "arm's length";

    In case of issuance of shares to the parties, There is no issuance of Company Shares.
    details of issue price, class of shares       However, the investment in the Joint
    issued;                                       venture will be in cash of US $ 312,671
                                                  (SAR 1,172,501) in the equity share
                                                  capital of the proposed joint venture
                                                       company.
    Any other disclosures related to such         Nil
    agreements, viz., details of nominee on the
    board of directors of the listed entity,
    potential conflict of interest arising out
    of such agreements, etc.

    In case of termination or amendment of        Not Applicable
    agreement, listed entity shall disclose
    additional details to the stock
    exchange(s):
    a) name of parties to the agreement;
    b) nature of the agreement;
    c) date of execution of the agreement;
    d) details of amendment and impact thereof or
    reasons of termination and impact thereof.
  

This is for your information and records.

Yours sincerely,
For Infosys Limited
AGS Manikantha
Company Secretary

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