Initial public offering (IPO) of Pune based software product development company, Persistent Systems is entering capital market with an IPO of 54,19,706 equity shares of Rs 10 each on Mar. 17, 2010. The company will raise around Rs 1.57-1.68 billion at price band of Rs 290-310 a share. The issue will close on Mar. 19, 2010.
Proceeds from IPO will be used to establish its development facilities, to capitalize its subsidiaries for establishing development facilities and meeting fit outs and interior design costs, to procure hardware; and to fund expenditure for general corporate purposes.For more details click here.
Wednesday, March 17, 2010
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