Persistent Systems launches Rs 4,265-cr QIP; floor price set at Rs 5,550/share

Persistent Systems has launched a qualified institutional placement (QIP) valued at Rs 4,265 crore. The company has set the floor price for the offering at Rs 5,550 per share.

Key details of the offering

The fundraising process is being conducted through a QIP, a share placement aimed at qualified institutional investors. The announced size of the offering is Rs 4,265 crore.

The floor price has been fixed at Rs 5,550 per share. No further details on the number of shares offered, investor participation or the closing timeline were provided.

What is known so far

The launch gives investors the central terms disclosed for the transaction: its total value and the minimum price set for each share. The available information does not include details about how the proceeds will be used or the potential impact on the company’s share capital.

Further developments will depend on the progress and completion of the placement. For now, Persistent Systems’ QIP remains defined by its Rs 4,265-crore size and Rs 5,550-per-share floor price.