Infosys Technologies Limited (NASDAQ: INFY) announced the pricing of its sponsored secondary offering of 30,000,000 American Depositary Shares (ADSs), representing 30,000,000 equity shares (one equity share represents one ADS) at a price of US$53.50 per ADS excluding underwriting discounts and commissions. The aggregate size of the offering exceeds US$1.6 billion.

As part of this offering, 5,000,000 ADSs representing 5,000,000 equity shares will be placed with Japanese investors through a Public Offer without Listing (POWL).

Infosys will not receive any proceeds of this offering and the net proceeds after the offering expenses will be distributed to the selling shareholders within 30 days of the closing of the offering. On November 17, 2006, the Indian Invitation to Offer concluded, with 3,477 valid offers for 84,032,322 equity shares being offered for sale in the sponsored secondary ADS offering. The maximum offer size of the Indian Invitation to Offer was 30,000,000 equity shares. The unsold shares will be returned to the selling shareholders by December 4, 2006. The combined holdings of all the shareholders who offered their shares in the Indian Invitation to Offer were 246,150,744 equity shares.

The Offering was lead-managed by ABN AMRO Bank N.V., Hong Kong branch and N M Rothschild & Sons (Hong Kong) Limited, each trading as ABN AMRO Rothschild, Banc of America Securities LLC, Deutsche Bank Securities Inc., Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities Inc., Nomura Singapore Limited and UBS AG. Nomura Securities Co., Ltd. acted as the sole book runner for the POWL. Enam Financial Consultants Private Limited acted as the Indian Financial Advisor to the offering.