Persistent Systems Limited’s Special Committee of the Board of Directors met on October 26, 2026, and approved the closure of its Qualified Institutional Placement (QIP) Issue. The committee determined and approved the allocation of 7,683,981 equity shares at an issue price of ₹5,550.00 per share. This price represents a discount of ₹211.00 to the floor price of ₹5,761.00, aligning with SEBI ICDR Regulations.
QIP Issue Closure and Share Allocation Approved
Persistent Systems Limited announced today, October 26, 2026, that its Special Committee of the Board of Directors has successfully concluded its meeting and approved key outcomes of the Qualified Institutional Placement (QIP) Issue. The committee formally approved the closure of the Issue on the same day, following the receipt of application forms and funds from eligible institutional buyers.
Key Allocation Details
In a significant resolution, the committee determined and approved the allocation of 7,683,981 equity shares. These shares were allocated at an issue price of ₹5,550.00 per equity share. This price point includes a premium of ₹5,545.00 per equity share and was set at a discount of ₹211.00 (approximately 3.66%) to the floor price of ₹5,761.00 per equity share. The allocation adheres to the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, for the shares to be allotted to eligible qualified institutional buyers.
Further Approvals
The committee also approved and adopted the Placement Document dated October 26, 2026. Furthermore, it finalized the confirmation of allocation notes to be sent to the eligible qualified institutional buyers, officially intimating them of their share allocation. An approval was also granted for the issuance of refund intimation letters to any bidders who may be entitled to a refund amount.
The company intends to file the Placement Document with the Stock Exchanges in due course. The document will also be made available on the company’s website.
Source: BSE
