Persistent Systems Allots ₹70 Billion Non-Convertible Debentures

Persistent Systems Limited has approved the allotment of 700,000 Non-Convertible Debentures (NCDs) worth INR 70 billion on a private placement basis. The Series 1 Debentures, with a face value of INR 0.10 million each, carry an interest rate of 8.95% per annum and mature on November 4, 2028. The allotment was approved by the Special Committee of the Board of Directors on November 4, 2026. These NCDs are listed on the National Stock Exchange of India Limited and are secured by various charges, including hypothecation of a designated proceeds account and pledges of shares related to a potential merger involving Galaxy Germany Holding SE and Nagarro SE.