Persistent Systems to raise Rs 6,000 crore via NCDs for Nagarro deal
Persistent Systems secured new business in an ipo & listings development.
· Economic Times Markets
Persistent Systems plans to raise more than ₹6,000 crore through non-convertible debentures for its Nagarro SE acquisition. The company successfully completed a QIP earlier this week, raising ₹4,264 crore. NCDs will range from one to five years, averaging three years in maturity. Persistent secured 94% of Nagarro shares after receiving shareholder offers this month.
The analysis
Persistent Systems reported Rs 6,000 crore and ₹4,264 crore, with movement of 94% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +2.9% on the day at ₹6,048.00, and has returned +9.7% over three months. It sits 8% below its 52-week high. The it sector has moved -3.1% over the same period, so Persistent Systems is running 12.8 points ahead of its peers.
For Persistent Systems, the question is how much of this is already reflected in the price and how much re-rates the it peer set alongside it.
Why it matters
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
Market context
- In focus: Persistent Systems (PERSISTENT), in IT.
- Over three months: Persistent Systems +9.7% against IT -3.1% (12.8 points ahead).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Persistent SystemsPERSISTENT · IT | ₹6,048.00 | +2.9% | +14.6% | +9.7% | -7.9% | 1.4× | — |
IT
1M +5.2% · 3M -3.1%
Persistent Systems
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
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