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

Persistent Systems Ltd's Special Committee of Directors has approved the terms for issuing Non-Convertible Debentures (NCDs) up to INR 8,000 Crores (INR Eight Thousand Crores only) via private placement. This issuance is part of the long-term debt financing strategy related to the acquisition of Nagarro SE. The NCDs are proposed to be listed on the National Stock Exchange of India Limited. The committee also considered and approved terms for Commercial Paper issuance as part of the same financing plan. This move follows approvals from the Board of Directors and the company's shareholders in the Extraordinary General Meeting.