From The Economic Times · PTI · · 1m
Persistent Systems QIP Launch
Persistent Systems opens QIP to raise Rs 4,265 crore with floor price set at Rs 5,550/share.
In brief
Persistent Systems opens QIP to raise Rs 4,265 crore with floor price set at Rs 5,550/share. Persistent Systems launched a QIP to raise up to Rs 4,265 crore with a floor price of Rs 5,550 per share. Originally reported by The Economic Times.
Persistent Systems QIP Launch
Persistent Systems opens QIP to raise up to Rs 4,265 crore with floor price set at Rs 5,550 per share.
QIP Details
The company may offer a discount of up to five per cent on the floor price, approved by members on October 5.
Issue Size
The issue size will comprise up to USD 450 million equivalent to Rs 42,646.10 million based on RBI/FBIL rate of Rs 94.7691 per USD.
Board Approval
The special committee approved the floor price of Rs 5,550 per share under SEBI's pricing formula.
Final Price Determination
The final issue price will be decided by the company with JP Morgan India, IIFL Capital Services and HSBC Securities.
What to remember
Persistent Systems launched a QIP to raise up to Rs 4,265 crore with a floor price of Rs 5,550 per share.
