In an unexpected turn of events, Infosys Ltd’s share price experienced notable fluctuations this week, fueled by the groundbreaking announcement of the company’s acquisition of semiconductor design and embedded services provider, InSemi, for a staggering Rs 280 crore.
Infosys, in a regulatory filing, revealed that the acquisition of InSemi, with a reported revenue of Rs 153.6 crore, is anticipated to conclude during the fourth quarter of fiscal 2024, subject to customary closing conditions.
The Bengaluru-headquartered InSemi, boasting a substantial workforce of over 900 professionals, is set to become an integral part of Infosys’ strategic expansion plans in the semiconductor domain.
“Consideration including earn-outs, and management incentives, and retention bonus totaling up to INR 280 crores subject to customary closing adjustments,” Infosys specified in its filing.
Investors reacted dynamically to this significant development, with Infosys shares witnessing a surge throughout the week. The market’s response reflects a blend of anticipation and confidence in Infosys’ strategic move to strengthen its presence in the semiconductor sector. As the acquisition progresses, market analysts and investors will be closely monitoring Infosys’ shares for further insights into the company’s strategic direction and potential market impact.
NSE Data –
| Date | series | OPEN | HIGH | LOW | PREV. CLOSE | ltp | close | vwap | 52W H | 52W L | VOLUME | VALUE | No of trades |
| 12-Jan-2024 | EQ | 1,562.00 | 1,618.00 | 1,555.40 | 1,494.20 | 1,615.00 | 1,612.75 | 1,597.81 | 1,619.75 | 1,185.30 | 2,67,54,401 | 42,74,84,63,414.70 | 7,07,055 |
| 11-Jan-2024 | EQ | 1,524.90 | 1,525.00 | 1,486.60 | 1,519.90 | 1,520.30 | 1,494.20 | 1,499.59 | 1,619.75 | 1,185.30 | 1,12,96,088 | 16,93,95,11,689.75 | 3,11,866 |
| 10-Jan-2024 | EQ | 1,524.95 | 1,535.45 | 1,505.00 | 1,529.30 | 1,519.95 | 1,519.90 | 1,519.11 | 1,619.75 | 1,185.30 | 40,96,845 | 6,22,35,56,847.75 | 1,44,590 |
| 09-Jan-2024 | EQ | 1,541.90 | 1,553.00 | 1,525.85 | 1,522.80 | 1,530.05 | 1,529.30 | 1,541.86 | 1,619.75 | 1,185.30 | 44,12,074 | 6,80,27,82,136.25 | 1,42,604 |
| 08-Jan-2024 | EQ | 1,528.95 | 1,536.00 | 1,513.25 | 1,532.55 | 1,520.00 | 1,522.80 | 1,523.73 | 1,619.75 | 1,185.30 | 44,40,136 | 6,76,55,59,618.55 | 1,59,896 |