PSPersistent Systems533179QIP fundraising

QIP opens; floor price fixed at INR 5,550 per Equity Share, issue size up to USD 450 million

Persistent Systems' Special Committee met on October 21, 2026 and approved opening a QIP issue the same day.

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

Floor Price

INR 5,550 per Equity Share

Issue Size

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

Maximum Discount

not more than 5% on the floor price

What the company told the exchanges

Persistent Systems has informed NSE and BSE that its Special Committee of the Board met on Wednesday, October 21, 2026, from 1846 Hrs. to 1851 Hrs. (IST). The committee approved opening a Qualified Institutions Placement (QIP) issue the same day, approved the floor price, and adopted the Preliminary Placement Document dated October 21, 2026.

What a QIP is, in simple words

A QIP is a way for a listed company to raise money by selling new equity shares to large institutional investors such as mutual funds, insurers and foreign funds. The shares are issued in a placement rather than to the general public.

Key terms set by the committee

• Floor price: INR 5,550 per Equity Share, arrived at using the pricing formula under the SEBI ICDR Regulations.
• Relevant date for the issue: October 21, 2026, which is the reference date used to calculate that floor price.
• Discount: the company may, at its discretion, offer a discount of not more than 5% on the floor price, within the approval given by members through a special resolution dated October 5, 2026.
• Final issue price: to be decided by the company in consultation with the book running lead managers.

Size of the fund raise

• The issue will comprise such number of equity shares aggregating up to USD 450 million, equivalent to INR 42,646.10 million.
• That rupee equivalent is computed on the basis of the RBI/FBIL reference rate of INR 94.7691 per USD as on October 19, 2026.

Who is managing the issue

The book running lead managers named in the update are J. P. Morgan India Private Limited, IIFL Capital Services Limited (formerly IIFL Securities Limited) and HSBC Securities and Capital Market (India) Private Limited.

Other points from 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, in line with the company's insider trading code, and will stay closed till further notice.
• The Preliminary Placement Document dated October 21, 2026 is being made available on the company's website.

How a reader can think about it

• A QIP brings in fresh equity capital, but it also means new shares are issued, so existing shareholders hold a smaller proportional stake after the issue.
• The floor price of INR 5,550 per Equity Share is the base price; the final price can be lower only to the extent of a discount of not more than 5%, as permitted.
• The full size of USD 450 million (about INR 42,646.10 million at the stated reference rate) shows the scale of capital the company is seeking to raise, and the final number of shares issued will depend on the price finally decided.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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