Company: INFY
Filing Date: 2025-10-21
Form Type: SC TO-C
Source: 0001193125-25-245101
Chunk: 57

Company: Infosys Ltd
Filing Date: 2025-10-21
Form: SC TO-C
Chunk 57
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 certain actions in order to withdraw the Equity Shares underlying the ADSs held by them in advance of the Record Date and should have become holders of Equity Shares on the    
 Record Date. They, therefore, needed to (i) apply for and obtain a PAN from the Indian Income Tax Department to allow them to directly hold Equity Shares, (ii) establish an account with a bank, broker or other nominee in India sufficiently        
 in advance of the Record Date to receive Equity Shares in electronic/ dematerialized form and set up a broker account in India to effect the transactions in the Equity Shares (an “Indian Demat account (Subtype DR) and a Brokerage                  
 Account”) prior to the Record Date, and (iii) submit their desired number of ADSs to Deutsche Bank Trust Company Americas, as ADR depositary (the “Depositary”) for cancellation along with proper cancellation                                        
 instructions in each case sufficiently in advance of the Record Date and withdraw the underlying Equity Shares such that they are holding Equity Shares of the Company as of the Record Date. As a holder of Equity Shares as of the Record Date, they 
 can tender into the Buyback any or all such withdrawn Equity Shares in accordance with the terms of the Buyback when the Tendering Period for the Buyback commences.                                                                                   |

51

DRAFT—SUBJECT TO COMPLETION

| 22.27 | ADS holders who cancelled any ADSs and withdrew the underlying Equity Shares, such that they became holders of                                    
 Equity Shares as of the Record Date will be allocated an entitlement that is dependent on the number of Equity Shares held as of the Record Date. |

| 22.28 | Equity Shares trade on the NSE and the BSE and cannot be traded on the NYSE. There is no guarantee that any ADS                                                                                                                                        
 holder who submitted ADSs for cancellation and withdrawal of the underlying Equity Shares will have any or all of such Equity Shares accepted in the Buyback. The Company had received an intimation from the SEBI in 2017 that the Depository Receipt 
 Scheme, 2014 issued by the Government of India was presently in vogue. Since Depository Receipt Scheme, 2014 has not been amended with respect to conversion or reconversion of the depository receipts, the same advice holds true. In terms of the   
 scheme, the conversion of ADSs into Equity Shares and vice versa is available to the Company. Accordingly, the re-deposit of the withdrawn Equity Shares against the creation of ADS will be in accordance with                                        
 the provisions