PERSISTENT SYSTEMS LTD.

Persistent Systems Ltd announced the outcome of its Special Committee Meeting held on October 26, 2026. The committee approved the closure of the Qualified Institutional Placement (QIP) issue and the allocation of 7,683,981 Equity Shares at an issue price of ₹5,550.00 per share. This price represents a discount of ₹211.00 (3.66%) to the floor price of ₹5,761.00. The company also approved the Placement Document and the confirmation of allocation notes to be sent to eligible qualified institutional buyers. Refund intimation letters will be issued to any entitled bidders. The Placement Document will be filed with the stock exchanges and made available on the company's website.

Persistent Systems Ltd has confirmed the floor price for its upcoming equity issue. The Special Committee of the Board of Directors has approved a floor price of INR 5,761.00 per Equity Share. This decision is based on the pricing formula prescribed under the SEBI ICDR Regulations. All other details previously communicated remain unchanged.

Persistent Systems Ltd announced the opening of its Qualified Institutions Placement (QIP) issue on October 21, 2026. The Special Committee of the Board of Directors approved a floor price of INR 5,550 per equity share, determined according to SEBI ICDR Regulations. The company also approved and adopted the Preliminary Placement Document (PPD). The issue aims to raise up to USD 450 million (approximately INR 42,646.10 million). The trading window for insiders remains closed until further notice.

Persistent Systems Ltd's Special Committee of the Board of Directors has approved the opening of a Qualified Institutions Placement (QIP) issue. The floor price for the issue has been set at INR 5,550 per Equity Share, determined according to SEBI ICDR Regulations. The company also approved and adopted the Preliminary Placement Document. The issue size is up to USD 450 million (approximately INR 42,646.10 million). The trading window remains closed for designated persons until further notice.

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.

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.

Persistent Systems Ltd has filed its audited financial statements for the quarter and half-year ended September 30, 2026. The company's Board of Directors approved these statements at a meeting held on October 15, 2026. The detailed consolidated and standalone financial results are now available on the company's official website.

Persistent Systems announced its audited financial results for Q2 FY27, reporting revenue of USD 487.6 million, a 20.0% increase year-over-year. The company also secured approximately 94.04% of Nagarro's share capital, advancing its acquisition strategy. Shareholder approval was obtained for an equity raise of up to USD 450 million. The company highlighted progress in its AI capabilities and strong client wins across various sectors, including Software, Hi-Tech, BFSI, and Healthcare. Order bookings for the quarter were $633.5 million in TCV and $481.0 million in ACV.

Persistent Systems Limited announced that its Board of Directors, in a meeting held on October 15, 2026, approved the audited financial results for the quarter and half-year ended September 30, 2026. The company also submitted the Auditors' Reports for both consolidated and standalone financial results for the same period. The meeting commenced at 0800 Hrs. (IST) and concluded at 1545 Hrs. (IST).

Persistent Systems' consolidated revenue for the quarter ended September 30, 2026 (Q2 FY27) came in at ₹4,663.9 Cr, up 30.3% YoY and 8.4% QoQ — well above the pre-result preview's ₹4,650-4,850 Cr expected range and the Street's flagged 15-17% YoY growth band (~$560-580M). But consolidated PAT fell to ₹351.5 Cr, down 25.4% YoY and 27.2% QoQ, missing the margin-hold narrative the Street was pricing in. Consolidated basic EPS was ₹22.42 against ₹30.31 a year ago and ₹30.88 last quarter. The gap is driven almost entirely by costs tied to the Nagarro SE acquisition: consolidated 'Other expenses' rose to ₹934.6 Cr from ₹414.1 Cr a year ago, including roughly ₹185.3 Cr of acquisition-related fees (note 9d) sitting at the Group/BidCo level, plus a ~₹24 Cr net loss from subsidiaries before consolidation adjustments. Consolidated OPM compressed to 13.6% from 19.1% YoY and 16.2% QoQ; NPM fell to 7.5% from 13.0% YoY. Standalone tells a materially different story (>3% divergence): standalone PAT rose 5.2% YoY to ₹482.9 Cr, because the deal costs and subsidiary losses sit outside the standalone entity. Adjusting consolidated PAT for the ~₹185.3 Cr pre-tax deal-cost add-back (~₹143.6 Cr post-tax at the quarter's 22.5% effective rate) yields underlying consolidated PAT growth of roughly +5% YoY — closely matching the standalone print — so the headline -25% decline is largely a one-off consolidation/deal-cost effect, not core operating collapse. Even so, standalone NPM also slipped to 10.7% from 13.0% YoY, consistent with the wage-hike headwind our pre-result preview flagged, and employee/subcontracting costs grew faster than revenue (+22.4% and +32.8% YoY respectively) — so some genuine margin erosion sits beneath the one-off. Against management's only quantifiable guidance on record — an FY26 effective tax rate of 20-24% — the quarter's 22.5% consolidated rate stayed on track; the longer-term $2B-by-FY27 / $5B-by-FY31 aspiration isn't quantified for this specific quarter, with H1 FY27 consolidated revenue at ₹8,967 Cr ahead of any Nagarro contribution. The quarter's corporate developments reinforce the transition underway: the Nagarro takeover concluded October 6, 2026 with Persistent securing 94.04% of shares (after this quarter's cutoff, so consolidation starts H2), a new Hyderabad delivery facility opened October 13, and the Chief Delivery Officer resigned October 9 — a leadership change landing just as Nagarro integration begins. No management press-release commentary on this print was available in our records, so this read is drawn solely from the audited financial statements and notes.