Persistent Systems IPO : Files DRHP with SEBI

by khalid on 03/01/2010 · 0 comments

Persistent Systems is a technology company specializing in outsourced software product development. The company informed the market (BSE) that they have filed DRHP with market regulator SEBI to float an IPO for raising money in Feb 2010. It has planned a public issue of 5419706 equity shares of Rs 10 each. The issue comprises a reservation of up to 541976 equity shares for eligible employees and the balance to the public.

The proceeds of the issue would be utilized in establishing development facilities, capitalize subsidiaries for establishing development facilities and meeting fit outs and interior design costs, procure hardware, fund expenditure for general corporate purposes and achieve the benefits of listing on the Stock Exchanges.

The book running lead managers to the issue are Enam Securities Private Limited and JP Morgan India Private Limited. Link Intime India Private Limited is the registrar.

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