IT firm Persistent Systems has opened a qualified institutional placement (QIP) to raise up to USD 450 million, or about Rs 4,265 crore, and set the floor price at Rs 5,550 per share, PTI reported, citing the company's stock-exchange disclosure on Wednesday.

Source: PTI via The Hindu BusinessLine

$450 millionmaximum QIP size (yaani about Rs 4,265 crore)
Rs 5,550floor price per share
up to 5%possible discount on floor price
Rs 94.7691RBI/FBIL reference rate per USD (Oct 19)

The company informed the stock exchanges that its special committee of the board approved the opening of the issue, the floor price and the preliminary placement document. The floor price was set under SEBI's pricing formula, and the company may offer a discount of up to five per cent on it, in line with the approval given by members through a special resolution on October 5, PTI reported.

Source: PTI via The Hindu BusinessLine

The issue size will comprise equity shares aggregating up to USD 450 million, equivalent to Rs 42,646.10 million, computed on the basis of the RBI/FBIL reference rate of Rs 94.7691 per USD as on October 19, 2026, the company said in its BSE filing, as reported in the filing coverage.

Source: Kalkine (BSE/NSE filing)

The final issue price will be decided by the company in consultation with the book running lead managers - JP Morgan India, IIFL Capital Services and HSBC Securities and Capital Market (India) - PTI reported. Only qualified institutional buyers are eligible to participate in a QIP. No closing date or allotment outcome was announced in the reports cited here.

Source: PTI via The Hindu BusinessLine

Sources: PTI via The Hindu BusinessLine; Kalkine, reporting the company's BSE/NSE filing.