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Infosys shareholders: Who owns the most INFY stock?

By Alejandro Arrieche

Edited by Vanessa Kintu

12:02, 2 November 2022

Exterior of Infosys headquarters
Infosys is a a leading force in the consulting industry Photo: Jonathan Weiss / Shutterstock

Cost pressures resulting from India’s elevated inflation levels and the overall deterioration in macroeconomic conditions across the world – including fears that a global recession could be about to hit – have weighed on the performance of Infosys (INFY) stock lately.

So far in 2022, INFY stock has accumulated a 26.1% loss. Despite this recent weakness, Infosys shareholders are sitting on five-year gains of roughly 187%. This track record exceeds the gains produced by the S&P 500 (US500) during that same period by more than three times.

Infosys (INFY) live chart

Who has benefitted the most from these impressive gains? In this article, we share further details on who owns the most shares of Infosys.

What is Infosys?

Infosys is a global company that provides digital services and consulting to companies in more than 50 countries through a network of more than 300,000 employees. It was founded in 1981 by a group of seven engineers in Pune, India. Since then, it has grown to become a leading force in the consulting industry.

Among the seven founding engineers was Nagavara Ramarao Narayana Murthy, father of Akshata Murty. Ms Murty’s husband, Rishi Sunak, became leader of the UK Conservative party and consequently Prime Minister of the UK in late October. Though not a major shareholder, Akshata Murty has a 0.93% stake in the company and it has been estimated that she receives around £11.5m a year in dividends from her stake in the Indian IT firm.

Infosys generates revenues from two business segments. The first is the digital side, which offers technological solutions in artificial intelligence, blockchain, cybersecurity and digital marketing.

The second side is the core segment of the business comprised of the ‘legacy’ solutions offered by Infosys. These include: IT infrastructure, business process management, support and integration services, and enterprise applications.

During the first six months of FY 2022, Infosys generated revenues of $8.99bn. Roughly 62% of this figure came from the digital segment. The majority of the company’s sales come from customers in North America and Europe while the financial services industry is the most relevant one for Infosys in terms of revenue.

Infosys was listed on the New York Stock Exchange (NYSE) in December 2012 under the ticker symbol INFY. The stock is also listed on stock exchanges in India, Argentina and Mexico. 

In the past five years, Infosys stock delivered gains of 186.5%. During that same period, the S&P 500 and the tech-heavy US Tech 100 Index (US100) produced gains of 51% and 83.8%, respectively.

Infosys (INFY) vs US major stock indices 5-year historical performance

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Who are the shareholders of Infosys?

According to form 20-F, a filing required for foreign equity issuers by the US Securities and Exchange Commission (SEC), there were 120,351 stockholders of record, as of 25 May 2022, in the US alone.

The company stated foreign institutional and portfolio investors and non-resident Indians held 33.12% of the company’s equity. These foreign shareholders of Infosys may include brokerage firms, hedge funds and other similar entities.

The report also indicated that the Life Insurance Corporation of India (LICI) held 250.87 million shares of Infosys, representing a 5.96% stake by the end of that same period. All directors and officers of the company (also known as insiders) held a total of 101.94 million shares, a 2.42% combined stake in the firm.

All INFY shares have voting rights, meaning all Infosys shareholders have a say in the company’s affairs in proportion to the number of shares they own.

Individuals who buy the stock through a broker can appoint them as proxies, meaning the brokers can vote on their behalf. However, they can also opt to cast a vote on the company’s key decisions at the Infosys shareholders meetings. 

Institutional Infosys shareholders

According to data from MarketScreener, the following is a list of the top five shareholders of Infosys, as of 31 October 2022.

Life Insurance Corporation of India – 6.20%

A state-owned insurance company that offers pension plans, healthcare and life insurance policies to over 250 million Indians. The company has been in business for 65 years and has more than 3,800 offices across the country.


228.99 Price
-2.390% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 0.13


247.86 Price
-3.440% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 0.29


27.72 Price
-6.180% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 0.12


117.82 Price
-6.790% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0041%
Overnight fee time 21:00 (UTC)
Spread 0.19

Insurance companies typically use their excess cash to invest in profitable endeavours that can provide supplemental income aside from the money they earn from underwriting policies to customers. This explains why LICI is listed as one of Infosys major shareholders.

SBI Funds Management Pvt Ltd – 3.72%

An Indian asset management company that offers an extensive portfolio of financial products including equity-focused investment vehicles that allow Indian investors to get exposure to the stock market. By the end of FY 2021/2022, the firm had averahge assets under management of $78.13bn. 

Since Infosys is an Indian-listed stock, the company is probably listed among Infosys biggest shareholders as its investment vehicles have incorporated a significant number of INFY shares into their respective portfolios.

The Vanguard Group – 2.61%

Considered America’s largest asset management company with more than $8trn in assets, as of March 2022. The company offers an ample range of investment products including equity-focused mutual funds and exchange-traded funds (ETFs) that invest in both US-listed and foreign stocks. 

Since Infosys (INFY) is listed both in the US and overseas, the company could be listed as one of Infosys biggest shareholders as its investment funds may own a significant number of shares in the consulting company. Vanguard may also be the custodian of a certain number of shares for customers who opt to use its self-directed trading platform.

GIC Pte Ltd – 2.28%

One of three state-owned investment funds created by the Singaporean government to oversee and invest the country’s financial reserves. 

By the end of March 2022, the fund invested around 30% of its assets into developed and emerging market equities. Infosys stock appears to have been selected by the GIC’s portfolio managers as one of the equity instruments that make up the fund’s asset base.

Sudha Gopalakrishnan – 2.27%

Gopalakrishnan is the founder of Sahapedia, an encyclopaedia that educates both natives and foreigners about Indian culture. She is considered a ‘promoter shareholder’, a term used in Indian law to refer to non-executive individual stockholders who own a sizable stake in a publicly-traded company such as Infosys. 

She is reportedly the largest individual shareholder of the company followed by the son of Infosys’s founder, Rohan Murty.

Infosys major shareholders among insiders

As of 25 May, Infosys listed the following five individuals as the top shareholders of Infosys among insiders based on a total of 4.2 billion outstanding shares.

  • Nandan M. Nilekani – 100,461,168 shares.

  • Salil Parekh – 770,481 shares.

  • Mohit Joshi – 304,353 shares.

  • Inderpreet Sawhney – 149,673 shares.

  • Krishnamurthy Shankar – 113,869 shares.

The report discloses that insiders own 2.42% of the firm, with Nandan M. Nilekani owning the majority of those shares with a 2.39% stake. These shares are typically granted to insiders by the company via stock options as part of their compensation package.

Nandan M. Nilekani

Nilekani co-founded Infosys in the 1980s and he is currently the chairman of the board. His net worth as a result of being one of the largest INFY shareholders was estimated at $1.3bn, according to the website Celebrity Net Worth. He is in charge of overseeing the activities of the company’s Board of Directors and leading the firm’s strategic pursuits. 

Salil Parekh

Parekh is the CEO of Infosys. He was appointed to the role in January 2018, replacing U.B. Pravin Rao. He was recently re-elected by the board to occupy the top position at the firm until March 2027. Before joining Infosys, Parekh was a partner at Ernst & Young and also held an executive position at Capgemini.

Mohit Joshi

Mohit Joshi is the President of Infosys. He oversees the financial services and healthcare/life sciences business for the company and also holds executive positions in several of the firm’s top subsidiaries including Edgeverve Systems. Joshi joined the company in 2000 and has served in different roles, including being the CEO of the firm’s operations in Mexico.

Bottom line

Keep in mind that a company’s share ownership is only a small part of the picture and should not be the main deciding factor when you buy or sell a stock.

Whether INFY shares are a suitable investment for you will depend on your investing goals, trading strategy, risk tolerance, and the size of your portfolio. You should do your own research before making any investment or trading decision. And never invest or trade money that you cannot afford to lose.


How many Infosys shares are there?

According to data from MarketBeat, there were a total of 4.2 billion outstanding shares in circulation as of 1 November. The figure provided by the firm in its 2022 annual report coincides with the one supplied by MarketBeat.

How many shareholders does Infosys have?

According to the company’s latest annual reports, there were 120,351 stockholders of record in the US alone by 25 May 2022. Figures on the exact number of shareholders who are domiciled in other corners of the world were not provided at the time.

Who owns Infosys company?

Infosys is owned by both individual and institutional stockholders. Some of the most prominent individual stockholders are Nandan M. Nilekani, Rohan Murty and Sudha Gopalakrishnan. Some of the largest holders of Infosys stock among institutions include The Vanguard Group, Life Insurance Corporation of India and SBI Funds Management.

Markets in this article

Infosys - ADR
20.57 USD
-0.13 -0.630%
US 500
5588.0 USD
-74.9 -1.320%
US Tech 100
19803.6 USD
-572.7 -2.810%

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Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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