Business · Companies · 9 hrs ago
Persistent Systems opens share placement to raise up to $450 million
Persistent Systems has opened a share placement to raise up to $450 million, or about ₹4,265 crore.
The company is an Indian IT firm issuing shares through a qualified institutional placement, a way to raise money from institutional investors.
The floor price is ₹5,550 per share, under the pricing rules set by India’s securities regulator.
Persistent Systems may offer a discount of up to 5% from that price, following shareholder approval.
The money raised will depend on how many shares are issued and the final price.
The company will set the final price in consultation with JP Morgan India, IIFL Capital Services and HSBC Securities and Capital Market (India).
Persistent Systems opened a qualified institutional placement to raise up to $450 million.
The company set the floor price at ₹5,550 per share.
It may offer a discount of up to 5% on the floor price.
The final issue price will be decided in consultation with the book running lead managers.
- Who
- Persistent Systems.
- What
- It opened a qualified institutional placement to raise up to $450 million.
- When
- October 21, 2026.
- Where
- Not stated.
- Why
- To raise up to $450 million through a share placement.
This story does not have two clearly opposing sides.
The company’s members approved a possible discount of up to 5% on the floor price through a special resolution.
The RBI/FBIL reference rate used to calculate the issue size was Rs 94.7691 per US dollar.
Persistent Systems opened the placement and set its floor price at ₹5,550 per share.
- Maximum raise
- $450 million
- Floor price
- ₹5,550 per share
- Potential discount
- Up to 5%
- Issue size in rupees
- Rs 42,646.10 million
- Lead managers
- JP Morgan India, IIFL Capital Services and HSBC Securities and Capital Market (India)
2 sources
What people are saying
The issue size will comprise such number of equity shares of the company aggregating up to USD 450 million equivalent to Rs 42,646.10 million, computed on the basis of the RBI/FBIL reference rate of Rs 94.7691 per USD as on October 19, 2026