Persistent Systems Approves QIP Issue Opening, Sets Floor Price at ₹5,550
Persistent Systems' Special Committee approved opening the QIP Issue on October 21, 2026, with a floor price of ₹5,550 per share. The issue size is up to USD 450 million (₹42,646.10 million). The trading window is closed for designated persons.
The QIP issue size of up to USD 450 million is substantial and can significantly impact the company's capital structure, future investments, and overall financial health.
The company is successfully raising equity capital through a QIP, which is generally viewed positively as it provides funds for growth or other strategic initiatives.
Persistent Systems Limited announced the outcome of its Special Committee Meeting held on October 21, 2026. The committee authorized the opening of the Qualified Institutions Placement (QIP) Issue on the same day.
The floor price for the QIP Issue has been approved at ₹5,550 per Equity Share, determined based on the pricing formula stipulated by SEBI ICDR Regulations. The committee also approved and adopted the Preliminary Placement Document (PPD) dated October 21, 2026, along with the application form.
The 'relevant date' for the Issue has been fixed as October 21, 2026. The company may offer a discount of up to 5% on the floor price, subject to consultation with the book running lead managers. The Issue size is up to USD 450 million (₹42,646.10 million), calculated based on the RBI/FBIL reference rate of ₹94.7691 per USD as of October 19, 2026.
In compliance with the company's code of conduct, the trading window remains closed for designated persons until further notice. The Preliminary Placement Document is available on the company's website.
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Persistent Systems Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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