PSPersistent Systems533179QIP fundraising

Persistent Systems opens QIP, floor price fixed at INR 5,550 per Equity Share

Persistent Systems' Special Committee approved the opening of a Qualified Institutional Placement (QIP) of equity shares on October 21, 2026.

By ScoutQuest · Wed 21 Oct 2026, 7:18 PM IST · 2 min read

QIP Floor Price

INR 5,550 per Equity Share

QIP Issue Size

up to USD 450 million, equal to INR 42,646.10 million

Reference Rate

INR 94.7691 per USD

What was decided

• The Special Committee of the Board met on October 21, 2026, from 1846 hrs to 1851 hrs (IST), and approved opening the Qualified Institutional Placement (QIP) issue the same day, i.e. October 21, 2026.
• The floor price for the issue is INR 5,550 per Equity Share, arrived at using the pricing formula under the SEBI ICDR Regulations.
• The Preliminary Placement Document dated October 21, 2026, along with the application form, was approved and adopted.
• October 21, 2026 was fixed as the relevant date for the issue.

Size and pricing

• The issue size will be up to USD 450 million, which the company states is equivalent to INR 42,646.10 million, computed at the RBI/FBIL reference rate of INR 94.7691 per USD as on October 19, 2026.
• The floor price is the minimum price; the final issue price will be determined by the company in consultation with the book running lead managers.
• Under the members' approval through a special resolution dated October 5, 2026, the company may, at its discretion, offer a discount of not more than 5% on the floor price so calculated.

Who is running the issue

• J.P. Morgan India Private Limited
• IIFL Capital Services Limited (formerly IIFL Securities Limited)
• HSBC Securities and Capital Market (India) Private Limited

Other points in the update

• The trading window has already been closed for the Promoters, Promoter Group, Board of Directors, Key Managerial Personnel, designated persons and connected persons till further notice, as per the company's Code of Conduct for Prevention of Insider Trading.
• A copy of the Preliminary Placement Document dated October 21, 2026 is available on the company's website.

What a QIP means, in simple terms

• Money is raised from institutional buyers such as mutual funds, insurers and foreign investors, not from retail investors.
• The company issues fresh equity shares, so the total number of shares increases and existing shareholders hold a smaller percentage of the company.
• The floor price is the lowest price at which shares can be offered in this issue; the actual price is set later through the book-building process.

Points to note for retail investors

• Retail investors cannot apply in a QIP; the shares are allotted to institutional buyers.
• The number of shares to be issued will depend on the final issue price, so the exact dilution is not fixed by the floor price alone.
• The resolution authorising the issue was passed by members on October 5, 2026, and this update records the committee's decision to open the issue and fixes the floor price.

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