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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 ₹310.00 per share . The lot size for an application is 20. The minimum amount of investment required by an retail is ₹5,800 (20 shares). 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 Date | March 17, 2010 to March 19, 2010 |
| Listing Date | April 6, 2010 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹290 to ₹310 per share |
| Issue Price Final | ₹310 per share |
| Lot Size | 20 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 54,19,706 shares (aggregating up to ₹168.01 Cr) |
| Fresh Issue | 41,39,000 shares (aggregating up to ₹128.31 Cr) |
| Offer for Sale | 12,80,706 shares of ₹10 (aggregating up to ₹39.70 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,58,61,000 shares |
| Share Holding Post Issue | 4,00,00,000 shares |
Persistent Systems IPO offers total 54,19,706 shares. Out of which 29,26,638 (54.00%) allocated to QIB, 4,87,773 (9.00%) allocated to NII, 14,63,319 (27.00%) allocated to RII.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 29,26,638 (54.00%) | NA |
| NII (HNI) Shares Offered | 4,87,773 (9.00%) | NA |
| Retail Shares Offered | 14,63,319 (27.00%) | 73,165 |
| Employee Shares Offered | 5,41,976 (10.00%) | NA |
| Total Shares Offered | 54,19,706 (100.00%) |
| 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 |
Persistent Systems IPO opens on March 17, 2010, and closes on March 19, 2010.
| IPO Open Date | Wed, Mar 17, 2010 |
| IPO Close Date | Fri, Mar 19, 2010 |
| Tentative Listing Date | Tue, Apr 6, 2010 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Mar 19, 2010 |
Investors can bid for a minimum of 20 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
| Particulars | For the year/period ended (Rs. in million) | ||||
| 31-Mar-09 | 31-Mar-08 | 31-Mar-07 | 31-Mar-06 | 31-Mar-05 | |
| Total Income | 6,006.84 | 4,504.66 | 3,177.15 | 2,188.19 | 1,488.48 |
| Profit After Tax (PAT) | 667.64 | 833.84 | 572.41 | 368.14 | 340.68 |
The Company Persistent Systems IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (in Millions) |
|---|---|---|
| 1 | Establishment of development facilities. | 1,748.97 |
| 2 | Capitalise our Subsidiaries for establishing development facilities. | 29.59 |
| 3 | Procuring hardware. | 204.50 |
| 4 | Fund expenditure for general corporate purposes. | 202.40 |
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.
| Listing Date | April 6, 2010 |
| BSE Script Code | 533179 |
| NSE Symbol | PERSISTENT |
| ISIN | INE262H01013 |
| Final Issue Price | ₹310 per share |
| BSE Listing Group | B |
Persistent Systems Ltd.
Bhageerath,
402 Senapati Bapat Road,
Pune 411 016, Maharashtra, India
Pune, Maharashtra
Phone: +91 20 3024 2000
Email: investors@persistent.co.in
Website: http://www.persistentsys.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: psl.ipo@linkintime.com
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Persistent Systems IPO is a main-board IPO of 54,19,706 equity shares of the face value of ₹10 aggregating up to ₹168.01 Crores. The issue is priced at ₹310 per share. The minimum order quantity is 20.
The IPO opens on March 17, 2010, and closes on March 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 March 17, 2010 and closes on March 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 Tuesday, April 6, 2010.
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