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Persistent Systems’ board approved a QIP to raise up to USD 450 million
21-Oct-2026, 08:23

Persistent Systems Limited announced that its Special Committee of the Board of Directors approved the opening of a Qualified Institutional Placement (QIP) on October 21, 2026, with a floor price of Rs 5,550 per equity share. The QIP aims to raise up to USD 450 million, equivalent to Rs 42,646.10 million, and will be managed by J. P. Morgan India Private Limited, IIFL Capital Services Limited, and HSBC Securities and Capital Market (India) Private Limited, with a potential discount of up to 5% on the floor price.