Bookbuilding IPO | ₹168 Cr | Listed at BSE, NSE | Wed, Mar 17, 2010 - Fri, Mar 19, 2010
Persistent Systems IPO is a book build issue of ₹168.01 crores. The issue is a combination of fresh issue of 0.41 crore shares aggregating to ₹128.31 crores and offer for sale of 0.13 crore shares aggregating to ₹39.70 crores.
Persistent Systems IPO bidding started from Mar 17, 2010 and ended on Mar 19, 2010. The shares got listed on BSE, NSE on Apr 6, 2010.
Persistent Systems IPO price band is set at ₹310 per share. The lot size for an application is 20. The minimum amount of investment required by an retail is ₹6,200 (20 shares) (based on upper price). The lot size investment for sNII is 33 lots (660 shares), amounting to ₹2,04,600, and for bNII, it is 162 lots (3,240 shares), amounting to ₹10,04,400.
The issue includes a reservation of up to 5,41,976 shares for employees offered at a discount of ₹0.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Persistent Systems IPO RHP for detailed Information.
IPO Open
Wed, Mar 17, 2010
IPO Close
Fri, Mar 19, 2010
Issue Price
₹310 per share
Market Cap (Pre-IPO)
₹1,240.00 Cr
| IPO Date | 17 to 19 Mar, 2010 |
| Listed on | Tue, Apr 6, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹290 to ₹310 |
| Issue Price | ₹310 per share |
| Lot Size | 20 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 54,19,706 shares (agg. up to ₹168 Cr) |
| Fresh Issue | 41,39,000 shares (agg. up to ₹128 Cr) |
| Offer for Sale | 12,80,706 shares of ₹10 (agg. up to ₹40 Cr) |
| Share Holding Pre Issue | 3,58,61,000 shares |
| Share Holding Post Issue | 4,00,00,000 shares |
| BSE Script Code / NSE Symbol | 533179 / PERSISTENT |
| ISIN | INE262H01013 |
Persistent Systems IPO comprises a total issue size of 54,19,706 shares. The net offer to the public is 48,77,730 shares, after excluding 5,41,976 shares under a preferential allotment. Of the Net offer 29,26,638 (60.00%) are allocated to QIB, 4,87,773 (10.00%) allocated to NII 14,63,319 (30.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 29,26,638 | 60.00% | 54.00% | NA |
| NII (HNI) Shares Offered | 4,87,773 | 10.00% | 9.00% | NA |
| Retail Shares Offered | 14,63,319 | 30.00% | 27.00% | 73,165 |
| Preferential Reservations | ||||
| Employee Shares Offered | 5,41,976 | 10.00% | NA | |
| Total Shares Offered | 54,19,706 | 100.00% | 100.00% | |
Investors can bid for a minimum of 20 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹6,200 |
| Retail (Max) | 32 | 640 | ₹1,98,400 |
| S-HNI (Min) | 33 | 660 | ₹2,04,600 |
| S-HNI (Max) | 161 | 3,220 | ₹9,98,200 |
| B-HNI (Min) | 162 | 3,240 | ₹10,04,400 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1990, Persistent Systems Ltd is in the business of outsourced software product development (OPD) services.
Company design, develop and maintain software systems and solutions, create new applications and enhance the functionality of existing software products.
Company's main focus is in the area of telecommunications, life sciences and infrastructure and systems.
Persistent Systems won the 2008 NASSCOM Innovation Award and recognized as one of the leading technology companies in the Deloitte Touche Tohmatsu Technology Fast 500 Asia Pacific 2009.
Company has nine development centers in Europe, America and Asia. In India, company operates from Pune. Company has workforce of more than 3500 software professionals.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Establishment of development facilities. | 174.90 |
| 2 | Capitalise our Subsidiaries for establishing development facilities. | 2.96 |
| 3 | Procuring hardware. | 20.45 |
| 4 | Fund expenditure for general corporate purposes. | 20.24 |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 43.34% | 0.3885% |
| Market Cap | ₹1,240.00 Cr. |
The Persistent Systems IPO is subscribed 93.6 times on March 19, 2010 6:30:00 PM (Day 3). The public issue subscribed 21.69 times in the retail category, 144.43 times in the QIB category, and 107.73 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 144.43 | 29,26,638 | |
| NII | 107.73 | 4,87,773 | |
| Retail | 21.69 | 14,63,319 | |
| Employee | 0.61 | 5,41,976 | |
| Total | 93.6 | 54,19,706 |
CRISIL has assigned an IPO Grade 4 to Persistent Systems Ltd IPO. This means as per CRISIL, company has above average fundamentals. CRISIL assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CRISIL IPO Grading Document for Persistent Systems Ltd.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees of the Lead Manager | 5.37 |
| 2 | Fees to the Bankers to Issue | |
| 3 | Underwriting commission, brokerage and selling commission | 0.19 |
| 4 | Advertising and marketing expenses, printing and stationery, distribution, postage etc. | 2.85 |
| 5 | Registrar to the Issue | 0.41 |
| 6 | Other expenses (Grading Agency, Legal Advisors, Auditors and other Advisors etc.) | 2.50 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹310.00 | ₹310.00 |
| Open | ₹400.00 | ₹361.60 |
| Low | ₹386.00 | ₹361.60 |
| High | ₹448.00 | ₹447.30 |
| Last Trade | ₹408.00 | ₹406.35 |
Lead Manager Reports
Persistent Systems IPO is a main-board IPO of 54,19,706 equity shares of the face value of ₹10 aggregating up to ₹168 Crores. The issue is priced at ₹310 per share. The minimum order quantity is 20.
The IPO opens on Wed, Mar 17, 2010, and closes on Fri, Mar 19, 2010.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Persistent Systems IPO using UPI as a payment gateway. Zerodha customers can apply in Persistent Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Persistent Systems IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Persistent Systems IPO opens on Wed, Mar 17, 2010 and closes on Fri, Mar 19, 2010.
Persistent Systems IPO lot size is 20, and the minimum amount required for application is ₹6,200.
You can apply in Persistent Systems IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Persistent Systems IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Persistent Systems IPO allotment status.
The Persistent Systems IPO listing date is on Tue, Apr 6, 2010.
