How will Infosys boost space technology growth with Rs 17 crore investment in GalaxEye?

Infosys announced on Thursday its plan to invest up to Rs 17 crore in the space tech startup GalaxEye Space Solutions as part of the Infosys Innovation Fund. This investment will include both equity and a series of compulsory convertible preference shares, according to a regulatory filing. The all-cash transaction is anticipated to be finalized by September 30, 2024. Infosys will acquire a minority stake in GalaxEye, which will not exceed 20% of the company’s total outstanding share capital, the filing revealed.