Persistent Systems has approved a floor price of ₹5,550 per Equity Share for its upcoming Qualified Institutions Placement (QIP) issue. The Special Committee of the Board of Directors also authorized the opening of the QIP and approved the Preliminary Placement Document. The issue aims to raise up to USD 450 million, equivalent to approximately ₹42,646.10 million.
Persistent Systems Approves QIP Floor Price and Opens Issue
Persistent Systems Limited announced today, October 21, 2026, that its Special Committee of the Board of Directors has taken key decisions regarding a Qualified Institutions Placement (QIP) issue. The meeting, which took place on October 21, 2026, saw the approval of the floor price for the issue, set at INR 5,550 per Equity Share. This price is determined based on the SEBI ICDR Regulations.
Key Approvals for Fundraising
The Special Committee has officially authorized the opening of the QIP issue on October 21, 2026. Furthermore, they have approved and adopted the Preliminary Placement Document (PPD) dated October 21, 2026, along with the necessary application forms. The ‘relevant date’ for the issue, as per SEBI ICDR Regulations, has been fixed as October 21, 2026.
Issue Size and Discount Considerations
The total issue size is expected to aggregate up to USD 450 million, which is equivalent to approximately INR 42,646.10 million. This valuation is based on the RBI/FBIL reference rate of INR 94.7691 per USD as of October 19, 2026. In accordance with the approval from the Members via a special resolution on October 5, 2026, the company may offer a discount of up to 5% on the calculated floor price.
Book Running Lead Managers Appointed
The determination of the final issue price will be conducted by the Company in consultation with the appointed book running lead managers. These managers include J. P. Morgan India Private Limited, IIFL Capital Services Limited (formerly IIFL Securities Limited), and HSBC Securities and Capital Market (India) Private Limited.
Trading Window Status
In compliance with the Company’s Code of Conduct for Prevention of Insider Trading, the trading window for Promoters, Promoter Group, Board of Directors, Key Managerial Personnel, Designated Persons, and Connected Persons has been closed until further notice.
Preliminary Placement Document Available
A copy of the Preliminary Placement Document, dated October 21, 2026, is available on the company’s website at Pre-Placement-Document-2026.pdf.
Source: BSE
