Persistent Systems to raise Rs 9,000 cr via debt to fund Nagarro acquisition; Q2 profit drops 25%
IT firm Persistent Systems’ board of directors approved the issuance of short-term debt instruments to raise capital worth Rs 9,000 crore. The issuance of non-convertible debentures and commercial papers is being considered as part of long-term debt financing related to Persistent’s acquisition of Nagarro SE.
Persistent Systems to issue NCDs and CPs worth Rs 9,000 crore
The Pune-based firm has proposed to issue NCDs worth Rs 8,000 crore on a private allotment basis. The company said in its regulatory filing that these securities will be listed on the National Stock Exchange.
