Persistent Systems Share Price in Focus After $450 Million QIP Launch

Persistent Systems Limited opened a qualified institutional placement (QIP) on October 21, 2026, to raise up to $450 million, or around ₹4,265 crore, as per an announcement through an exchange filing.  

The company's Special Committee of the Board of Directors approved the issue at a meeting held on the same day. The committee approved the opening of the issue, the floor price, and the preliminary placement document.  

The proposed fundraising will involve the issue of equity shares. 

Floor Price Fixed at ₹5,550 Per Share 

Persistent Systems has set the floor price at ₹5,550 per equity share under the pricing formula prescribed by the Securities and Exchange Board of India (SEBI). 

The company has fixed October 21, 2026, as the relevant date for the issue. It may offer a discount of up to 5% on the floor price, as permitted under SEBI's Issue of Capital and Disclosure Requirements (ICDR) Regulations.  

Shareholders approved this provision through a special resolution on October 5, 2026. The final issue price will be decided by the company in consultation with the book-running lead managers. 

Three Institutions Appointed as Lead Managers 

Persistent Systems has appointed J. P. Morgan India Private Limited, IIFL Capital Services Limited and HSBC Securities and Capital Market (India) Private Limited to manage the issue. 

The proposed issue size is $450 million, equivalent to ₹42,646.10 million. The rupee value is based on the RBI/FBIL reference exchange rate of ₹94.7691 per US dollar on October 19, 2026. 

Company Discloses Issue Details 

The preliminary placement document, dated October 21, 2026, has been made available on the company's website, along with the application form for the issue. 

The company also stated that its trading window remains closed until further notice for promoters, the promoter group, directors, key managerial personnel, designated persons and connected persons under its insider trading prevention code. 

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Persistent Systems Share Price Performance  

As of October 22, 2026, 11:08 am, Persistent Systems share price was trading at ₹5,825.00, a 0.57% decrease from the previous closing price. 

Conclusion 

Persistent Systems has opened the QIP with a proposed fundraising target of $450 million. The floor price stands at ₹5,550 per equity share, while the final issue price is yet to be determined. 

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