Persistent Systems533179IT services
Persistent Systems launched a $450 million QIP to fund the Nagaro acquisition, causing a gap-down opening
By ScoutQuest · · 1 min read
- QIP size
- 450 million dollars
- QIP size in rupees
- 4,260 crore rupees
- QIP floor price
- 5,550 rupees
- Discount to prior close
- more than 5 percent
- Equity dilution
- 4.9 percent
Heard on business television between 09:10:28 - 09:13:28 IST.
- Persistent Systems launched a QIP last evening to raise about $450 million, implying over 4,260 crore rupees.
- The floor price was set at 5,550 rupees a share, a discount of more than 5% to the previous close, explaining the stock's gap-down open.
- Total equity dilution at the floor price is 4.9% of pre-issue outstanding equity share capital.
- The fund raise is linked to the June 2026 acquisition of German engineering firm Nagaro, for which the company initially raised a term loan that it plans to replace with rupee debt and the QIP proceeds.
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Source: Live TV News Channel · 22 Oct 2026
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