Mumbai, March 11 :     Infosys Technologies, the Bangalore-based software major, today took its place in the sun when it became the first Indian corporate to list its American Depositary Receipt (ADR) on the Nasdaq, the giant bourse that houses global infotech giants like Microsoft and Intel. Within two hours of listing, the Infosys ADR soared $ 12.25 to $ 46.25 with 1.51 million ADRs changing hands in a bout of frenzied trading. Earlier, the ADR had touched a high of $ 46.50. The US offering is of 1,800,000 ADRs which represent 900,000 equity shares. At the dollar -rupee parity rate of Rs 42.45, the ADR was priced at Rs 1444.30. Two ADRs equal one Infosys share. The ADR issue price of $ 34 was at a 9.82 per cent discount to Thursday?s closing price of Rs 3201 on the Bombay stock exchange. But the exuberant Nasdaq response to India?s trailblazing public offering in the US indicated that the scrip could vault when the local bourses open for trading tomorrow. Before the issue, the company had a paid-up capital of Rs 16.02 crore. The ADR listed as ?INFY? on Nasdaq made its debut at the Nasdaq at 8.00 pm, Indian Standard Time. Infosys officials were in a celebratory mood as they joined a tripartite video-conferencing arrangement that linked the Nasdaq exchange with their headquarters at Bangalore and its associates in Mumbai. Chairman N.R. Narayana Murthy, who is currently in the US, was ecstatic over the event. He said the issue price was reasonable when compared with the book values and market conditions. Infosys threw a party for its employees at its campus in Bangalore where they could see Infosys debut on Nasdaq. The employees ? who are entitled to stock options abroad ? were overjoyed as the ADR crested a wave of euphoria on Nasdaq. Infosys is one of the most successful computer software companies in the country promoted by a bunch of entrepreneurs led by Narayana Murthy. The Infosys share, which ranks fifth on the totem pole with a market capitalisation of Rs 10,000 crore, rose sharply on the BSE earlier in the day in anticipation of the ADR being listed at a premium of over 10-15 per cent on Nasdaq. The share opened strong at Rs 3170 from yesterday?s closing level of Rs 3160. After touching an intra-day low of Rs 3110, it hit the day?s high of Rs 3279.75 and finally closed at Rs 3201. Although the ADR price was lower compared with the BSE quote, the analysts at local stock brokerages were said the pricing was attractive considering the current values on the US market. The managing underwriters to the Infosys ADR issue were NationsBanc Montgomery Securities LLC, BancBoston Rob-ertson Stephens, BT Alex. Brown and Thomas Weisel Partners LLC. The company has also granted the underwriters an option to purchase an additional 2.7 lakh ADRs which represents 1.35 lakh equity shares to cover over-allotments, if any, the release added.