Persistent Systems launches Rs 4,265-cr QIP; floor price set at Rs 5,550/share

The company informed the stock exchanges on Wednesday that its special committee of the board approved the opening of the issue, the floor price and the preliminary placement document.

The floor price was set at Rs 5,550 per equity share, under SEBI's pricing formula.

The company may offer a discount of up to five per cent on the floor price, in line with the approval accorded by members through a special resolution on October 5, it said.

"The issue size will comprise such number of equity shares of the company aggregating up to USD 450 million equivalent to Rs 42,646.10 million, computed on the basis of the RBI/FBIL reference rate of Rs 94.7691 per USD as on October 19, 2026," Persistent said in the BSE filing.

The special committee of the board also approved "the floor price for the issue, being Rs 5,550 per equity share (floor price), based on the pricing formula as prescribed under the SEBI ICDR Regulations", the filing further said.

The final issue price will be decided by the company in consultation with the book running lead managers, JP Morgan India, IIFL Capital Services and HSBC Securities and Capital Market (India).