On a split- and bonus-adjusted basis (price only, excluding dividends), Infosys has delivered approximately 34–35% compounded annual return (CAGR) from its IPO in February 1993 to the latest available close on 24 December 2025.

How this is derived (summary):

1. IPO details

- Infosys IPO: February 1993 at ₹95 per share (face value ₹10). (infosys.com)

2. Corporate actions since IPO (that affect share count): (icicidirect.com)

- 1994: Bonus 1:1

- 1997: Bonus 1:1

- 1999: Bonus 1:1

- 2000: Stock split 2-for-1 (face value ₹10 → ₹5)

- 2004: Bonus 3:1

- 2006: Bonus 1:1

- 2014: Bonus 1:1

- 2015: Bonus 1:1

- 2018: Bonus 1:1

Applying these sequentially, 1 IPO share becomes 1,024 shares today.

3. Adjusted IPO cost per today’s share

- Adjusted cost = ₹95 / 1,024 ≈ ₹0.093 per current share.

4. Latest price used (“till date”)

- Latest available Infosys NSE close (INFY) as of 24 Dec 2025: ₹1,662.40 per share. (financialexpress.com)

5. Total wealth multiple and CAGR

- Price multiple (price-only, including effect of bonuses/split):

- 1,662.4 / 0.093 ≈ 17,900×

- Time period: From Feb 1993 to Dec 24, 2025 ≈ 32.8 years

- Implied CAGR ≈ 34.8% per annum (≈ 35% p.a.).

Illustrative example (not a recommendation):

If someone invested in 100 shares at the IPO (₹9,500 total) and held through all bonuses/split without selling or tendering in buybacks:

- Today they would hold ≈ 102,400 shares (100 × 1,024).

- At ₹1,662.4 per share, that is ≈ ₹17.0 crore (price only, dividends extra).

Important notes:

- This ignores all dividends, which have been substantial; including dividends would increase the effective annualized return. (moneycontrol.com)

- Calculation assumes a buy-and-hold investor who participated in all bonus/split corporate actions and did not sell in buybacks.

- All returns are approximate and based on publicly available historical data and the latest closing price, not real-time quotes.

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