Persistent Systems Approves ₹8,000 Cr NCD Issuance for Nagarro SE Acquisition

Persistent Systems Ltd announced that its Special Committee of the Board of Directors has approved the terms for issuing Non-Convertible Debentures (NCDs) and Commercial Papers. This issuance, part of long-term debt financing, is specifically for the acquisition of Nagarro SE. The NCD issuance will be up to INR 8,000 Crores (INR Eight Thousand Crores only) via private placement and will be listed on the National Stock Exchange of India Limited. Further details regarding tenure, coupon, and maturity are available in the key information document. The approval follows recommendations from the Board of Directors and subsequent member approval at the Extraordinary General Meeting.