Persistent Systems Ltd. (PSL) was incorporated as Persistent Systems Pvt. Ltd. in May 1990 and was converted to Public Ltd. Company in September 2007. PSL is a technology company that specializes in outsourced software product development. It delivers services across the value chain of product development i.e. product conceptualization, design, development, testing and support. Company has significant domain expertise in telecommunications, life sciences & healthcare and infrastructure and systems. The company has offshore development centres located in Pune, Nagpur, Goa and Hyderabad. It also has nine development centers in Europe, America and Asia. In FY 09, the company had 297 customers, of which the top 10 customers accounted for around 37% of its revenues. The company worked with customers in the US, Canada, Norway, Sweden, Netherlands, France, Germany, Ireland, the United Kingdom, India, Japan, New Zealand, Australia and Singapore last fiscal year.
Issue Objectives
- For the establishment of development facilities
- For procurement of Hardware
- To establish development facilities and meeting fit outs and interior design costs
IPO Grading / Rating
ICRA has assigned an IPO Grade 4 indicating above average fundamentals.
Issue Open: Mar 17, 2010 - Mar 19, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 5,419,706 Equity Shares of Rs. 10
Issue Size: Rs. 157.17 - 168.01 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 290 - Rs. 310 Per Equity Share
Market Lot: 20 Shares
Minimum Order Quantity: 20 Shares
Listing At: BSE, NSE
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