Persistent Systems launches Rs 4,265-cr QIP; floor price set at Rs 5,550/share
Persistent Systems launched an initiative in an ipo & listings development.
· Economic Times Markets, ET Stocks
Persistent Systems has opened a qualified institutional placement to raise up to USD 450 million, or about Rs 4,265 crore. The IT company has set the QIP floor price at Rs 5,550 per share and may offer investors a discount of up to 5% under the approved pricing terms.
The analysis
Persistent Systems reported Rs 4,265, Rs 5,550 and Rs 4,265 crore, with movement of 5% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.9% on the day at ₹5,690.00, and has returned +12.2% over three months. It sits 13% below its 52-week high. The it sector has moved +3.9% over the same period, so Persistent Systems is running 8.3 points ahead of its peers.
For Persistent Systems, the question is how much of this is already reflected in the price and how much re-rates the it peer set alongside it.
Why it matters
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
Market context
- The company directly in focus is PERSISTENT.
- Sector exposure: IT.
In this story
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