Persistent Systems Limited announced the execution of a Share Purchase Agreement (SPA) on March 25, 2026, for an internal group restructuring. The transaction involves transferring 100% shareholding of its wholly owned subsidiary, Persistent Systems France S.A.S., to Aepona Group Limited, Ireland (also a wholly owned subsidiary). This move aims to achieve entity rationalization and operational efficiency within the group structure. Completion is targeted by March 31, 2026.
Intra-Group Share Transfer Agreement Executed
Persistent Systems Limited has finalized an agreement for a strategic internal group restructuring. On March 25, 2026, the company signed a Share Purchase Agreement (SPA) to transfer 100% of the shareholding of its French subsidiary, Persistent Systems France S.A.S., to Aepona Group Limited, based in Ireland. Both entities involved in the transfer are wholly owned subsidiaries of Persistent Systems Limited.
Rationale and Impact of Restructuring
The primary objective of this restructuring is to achieve entity rationalization and operational efficiency across the broader group. Following the transfer, Persistent Systems France S.A.S. will transition from being a direct wholly owned subsidiary of the Company to becoming a step-down subsidiary, held under Aepona Group Limited, Ireland.
This transaction is classified as a related party transaction and is confirmed to be executed at arm’s length.
Financial Details and Consideration
The cost/price at which the shares are being transferred is recorded as EUR 1,132,991. The consideration for the transfer is structured as a Share Swap Consideration. Instead of a cash payment, the Company will receive an equivalent number of equity shares of Aepona Group Limited, as detailed in the SPA.
Target Entity Snapshot (Persistent Systems France S.A.S.)
The French entity operates within the ITES industry, focusing on software products, services, information technology, and allied activities. It was incorporated in April 2011. Key financial metrics provided for the subsidiary are as follows:
- Paid up Capital: Euro 1,500,000
- Turnover as of FY25: EUR 6,183,053
The turnover for the preceding two years were:
- FY’24: EUR 8,156,767
- FY’23: EUR 12,739,732
Timeline for Completion
The indicative time period set for the completion of the transaction, in accordance with the terms of the SPA, is by March 31, 2026.
Source: BSE
