Persistent Systems Limited has successfully completed the initial acceptance period for its voluntary public takeover offer for Nagarro SE, securing approximately 61.15% of Nagarro’s outstanding share capital. Combined with a prior stake, Persistent now holds 83.25%, exceeding the required threshold. An additional two-week acceptance period will run from September 23, 2026, to October 6, 2026.
Nagarro SE Takeover Offer Update
Persistent Systems Limited (the ‘Company’) has announced the successful initial results of its voluntary public takeover offer for Nagarro SE (‘Nagarro’). During the acceptance period, which concluded on September 17, 2026, the Company secured 7,568,145 shares, representing approximately 61.15% of Nagarro’s outstanding share capital. This achievement, combined with an existing stake of approximately 22.10% acquired through a share purchase agreement, brings Persistent’s total aggregate shareholding in Nagarro to 83.25% (excluding treasury shares).
Minimum Threshold Exceeded
This aggregate shareholding of 83.25% comfortably exceeds the minimum threshold requirement of 50% plus one share needed for the takeover offer to be completed. The Company views this as a testament to the appeal of the offer and the strategic logic of combining Persistent and Nagarro to build a global AI-led digital engineering leader.
Additional Acceptance Period Announced
In accordance with prevailing laws, an additional acceptance period of two weeks will commence on September 23, 2026, and conclude on October 6, 2026. During this extended period, Nagarro’s shareholders who have not yet tendered their shares will have the opportunity to accept the offer at the same cash consideration of EUR 81.00 per share.
Potential Delisting and Transaction Timeline
Following the consummation of the offer, Persistent intends to pursue a delisting of Nagarro shares from the regulated market (Prime Standard) of the Frankfurt Stock Exchange and trading on the open market. This delisting is expected to be completed as soon as practicable and legally feasible. The transaction is anticipated to close by the end of Q1 CY27, subject to a limited number of outstanding regulatory approvals. The offer document and detailed terms are available at www.galaxy-offer.com.
Source: BSE
