Persistent Systems completes 7.68 million share placement at INR 5,550
PERSISTENT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.2 pts less than Nifty Midcap 150 and 0.7 pts less than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Persistent Systems allotted 7,683,981 shares to qualified institutional buyers at INR 5,550 each, raising about INR 42.65 billion. The issue price was 3.66 percent below the floor price. ICICI Prudential Technology Fund received 7.62 percent of the issue and Government Pension Fund Global received 5.86 percent. Shares rose from 158.15 million to 165.83 million.
The issue raises capital but adds about 4.86 percent to the share count, diluting existing holders; large fund participation may support demand.