Persistent Systems amends Article 12(iii) for further issue of shares

Corporate Actions View source PDF Explain this filing

PERSISTENT · price

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Price reactionminutes from the announcement price · days from the prior close

-0.3%Reaction day

₹5511.00

prior close

₹5513.50

announcement price

After-mkt

timing

Nifty Midcap 150market-0.6%+0.4% vs market

Computers - Software & Consulting peers, median of 67sector-0.6%+0.3% vs sector

On the reaction day the stock moved 0.4 pts more than Nifty Midcap 150 and 0.3 pts more than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.4

10m

-0.6

15m

-0.4

30m

-0.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.3-0.6+0.4-0.6+0.3

Next day

-0.8-3.0+2.3-1.8+1.0

+4.7-1.7+6.4-0.4+5.1

+5.0-1.6+6.6-0.6+5.6

+8.6-0.7+9.3+0.1+8.4

+7.1-0.7+7.8+1.0+6.0

+4.2-1.1+5.3+3.2+1.0

15d

+6.7-3.3+10.0-3.6+10.3

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UpDownMarket · Nifty Midcap 150Sector · Computers - Software & Consulting peers, median of 67Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Persistent Systems received member approval to amend Article 12(iii) of its Articles of Association. The change allows the company to issue further shares to any persons, not just existing shareholders, at a price determined per applicable laws, subject to approval by a Special Resolution. This effectively removes the preemptive rights of existing shareholders for such future share issuances.

Likely market impact

Existing shareholders lose preemptive rights on new share issuances, which could lead to dilution unless a Special Resolution is passed each time.