Persistent Systems opened a qualified institutions placement, or QIP, on October 21, 2026, with an announced size of up to US$450 million and a floor price of ₹5,550 per equity share. The announcement starts the fundraising process; it does not establish that the full amount has been raised.
For existing shareholders, the key unanswered questions are the final selling price, how many shares are allotted and what the company ultimately raises. A floor price is a pricing reference under the applicable rules, not a stock-price forecast or the final transaction price.
What the exchange filing confirms
| Field | Disclosed position | Official evidence |
|---|---|---|
| Issuer / route | Persistent Systems; qualified institutions placement (QIP) | NSE / Persistent |
| Opening and stage | Opened October 21, 2026; this notice announces opening, not completion | NSE / Persistent |
| Maximum announced size | Up to US$450 million; issuer’s stated equivalent ₹42,646.10 million (₹4,264.61 crore) | NSE / Persistent |
| Floor price | ₹5,550 per equity share | NSE / Persistent |
| Final price / discount | Final price to be determined with lead managers; discretionary discount no more than 5% of floor | NSE / Persistent |
| Retail lot / bidding | Not a retail IPO; no retail application lot is offered in this notice | SEBI ICDR |
| Use of proceeds / completion | Not detailed or confirmed in this two-page opening notice; full placement document not reviewed | NSE / Persistent |
What the rupee figure means
The notice states an equivalent size of ₹42,646.10 million, or ₹4,264.61 crore, using the October 19 RBI/FBIL reference rate of ₹94.7691 per US dollar. The crore conversion divides the disclosed million figure by ten. That dated conversion is not a current exchange-rate quote.
The company may offer a discount of no more than 5% to the floor price, at its discretion. The filing says the final issue price will be decided with J. P. Morgan India, IIFL Capital Services and HSBC Securities and Capital Market (India). It does not announce that the maximum discount has been used.
A QIP is not a retail IPO
SEBI’s ICDR definition describes a QIP as a private placement by a listed issuer to qualified institutional buyers. It should not be confused with an IPO application window open to retail investors. The regulatory source linked below is the compilation amended through March 21, 2026 and is used here for that definition, not as a review of every current eligibility rule.
What remains to be verified
The two-page opening notice does not confirm the closing date, final allotment, final price or receipt of proceeds. The full preliminary placement document has not been reviewed for this report, so detailed use-of-proceeds claims are not made. Subsequent official pricing and allotment filings are the next evidence to watch; the announced ceiling must not be treated as completed funding.
Sources and verification
Checked against the linked official documents, not media estimates. Source observation: . This is the source-check time, not a new issuer announcement.
- Persistent opening notice, October 21, 2026 (NSE PDF)
- SEBI ICDR compilation: QIP definition, regulation 2(1)(tt)
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.