Economic TimesLean R·
Persistent Systems to raise Rs 6,000 crore via NCDs for Nagarro deal
Persistent Systems plans to raise more than ₹6,000 crore through non-convertible debentures for its Nagarro SE acquisition. The company successfully completed a QIP earlier this week, raising ₹4,264 crore. NCDs will range from one to five years, averaging three years in maturity. Persistent secured 94% of Nagarro shares after receiving shareholder offers this month. The total acquisition value is around $1.25 billion, with additional debt financing to be arranged.
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