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Debt wish

Infosys Technologies Limited, the software giant, has decided that even if the American Depositary Receipt issue intended to fund its Rs two billion Infosys Park at Bangalore is delayed, it will go in for debt financing. The company has no plans to opt for further equity funding.

T O D A Y

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The company also expects to double its manpower to 5,000 by the year-end. Work on the park covering 25.8 acres and to a built-up area of 360,000 sq ft has already begun, close to the Infosys facility at Electronics City. It is expected to finally include seven buildings, two of which will be ready by July. The park is to consist only of offices and will not include housing for employees.

Besides debt financing, the company will essentially be relying on its reserves and some of the ADR funds to see the park through,

If the ADR issue is delayed, the company will have to opt for other sources of funding, including debt financing.

-Compiled from the Indian media

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