Infosys Ltd Announces Merger of Two Wholly Owned Subsidiaries in Romania

Infosys Ltd, a leading Indian multinational information technology company, has announced the merger of its two wholly owned subsidiaries in Romania, in-tech Engineering services S.R.L Romania ('Infosys Romania') and ProlT S.R.L.RO Romania ('ProlT'). The merger is part of the company's internal restructuring and has been approved by the shareholders of the respective entities. The transaction is exempted from being a related party transaction as per Regulation 23(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both Infosys Romania and ProlT are engaged in providing Information Technology (IT) and Information Technology (IT) enabled services. The rationale behind the merger is to enable synergies of operations and rationalize and consolidate the group structure. The merger will not result in any change in the shareholding pattern of Infosys Limited.