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Persistent Systems Limited IPO (Persistent Systems IPO) Detail

Mar 17, 2010 - Mar 19, 2010

Incorporated in 1990, Persistent Systems Ltd is in the business of outsourced software product development (OPD) services.

Company design, develop and maintain software systems and solutions, create new applications and enhance the functionality of existing software products.

Company's main focus is in the area of telecommunications, life sciences and infrastructure and systems.

Persistent Systems won the 2008 NASSCOM Innovation Award and recognized as one of the leading technology companies in the Deloitte Touche Tohmatsu Technology Fast 500 Asia Pacific 2009.

Company has nine development centers in Europe, America and Asia. In India, company operates from Pune. Company has workforce of more than 3500 software professionals.

Company Promoters:

The Promoters of Persistent Systems Ltd are:
1. Dr. Anand Deshpande
2. Mr S.P. Deshpande

Company Financials:

ParticularsFor the year/period ended (Rs. in million)
31-Mar-0931-Mar-0831-Mar-0731-Mar-0631-Mar-05
Total Income6,006.844,504.663,177.152,188.191,488.48
Profit After Tax (PAT)667.64833.84572.41368.14340.68

Objects of the Issue:

The objects of the Issue are to
1. Establish our development facilities;
2. Capitalise our Subsidiaries for establishing development facilities and meeting fit outs and interior design costs;
3. Procure hardware;
4. Fund expenditure for general corporate purposes and
5. Achieve the benefits of listing on the Stock Exchanges.

Persistent Systems IPO Details

IPO Opening Date Mar 17, 2010
IPO Closing Date Mar 19, 2010
Issue Type Book Built Issue IPO
Face Value ₹10 per equity share
IPO Price ₹290 to ₹310 per equity share
Market Lot 20 Shares
Min Order Quantity 20 Shares
Listing At BSE, NSE
Issue Size5,419,706 Eq Shares of ₹10
(aggregating up to ₹168.01 Cr)

Persistent Systems IPO Lot Size

The Persistent Systems IPO market lot size is 20 shares. A retail-individual investor can apply for up to 32 lots (640 shares or ₹198,400).

Application Lots Shares Amount (Cut-off)
Minimum 1 20 ₹6,200
Maximum 32 640 ₹198,400

Persistent Systems Ltd IPO Grading / Rating

CRISIL has assigned an IPO Grade 4 to Persistent Systems Ltd IPO. This means as per CRISIL, company has above average fundamentals. CRISIL assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CRISIL IPO Grading Document for Persistent Systems Ltd.

Persistent Systems IPO Subscription Status (Bidding Detail)

The Persistent Systems IPO is subscribed 93.60 times on Mar 19, 2010 18:30. The public issue subscribed 21.69 in the retail category, 144.43 in the QIB category, and 107.73 in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB

144.43

NII

107.73

RII

21.69

Employee

0.61

Total

93.60

Persistent Systems IPO Prospectus

Persistent Systems IPO Rating

601
4.1
Rating:Rated 4.1 stars
Vote Here ...

Persistent Systems IPO Listing Date

Listing Date Tuesday, April 6, 2010
BSE Script Code 533179
NSE Symbol PERSISTENT
Listing In B Group of Securities
ISIN INE262H01013
IPO Price ₹310 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹310.00
₹400.00
₹386.00
₹448.00
₹408.00
NSE
₹310.00
₹361.60
₹361.60
₹447.30
₹406.35

Company Contact Information

Persistent Systems Limited
Bhageerath,
402 Senapati Bapat Road,
Pune 411 016, Maharashtra, India
Phone: +91 20 3024 2000
Email: investors@persistent.co.in
Website: http://www.persistentsys.com/

Persistent Systems IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: psl.ipo@linkintime.com
Website: http://www.linkintime.co.in

Persistent Systems IPO Reviews / Ratings

Sorry, we couldn't find any reviews, please check back later.

Persistent Systems IPO FAQs

Persistent Systems IPO is a main-board IPO of 5,419,706 equity shares of the face value of ₹10 aggregating up to ₹168.01 Crores. The issue is priced at ₹290 to ₹310 per equity share. The minimum order quantity is 20 Shares.

The IPO opens on Mar 17, 2010, and closes on Mar 19, 2010.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The Persistent Systems IPO opens on Mar 17, 2010 and closes on Mar 19, 2010.

Persistent Systems IPO lot size is 20 Shares and the minimum order quantity is 20 Shares.

You can apply in Persistent Systems IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Persistent Systems IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Persistent Systems IPO allotment status.

The Persistent Systems IPO listing date is on Tuesday, April 6, 2010.

Persistent Systems IPO Message Board

Ranked Members  Ranked Members

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953. toshniwal |Jul 2, 2010 23:18
Dear Shreedhar Bhai,

I am holding 20 shares of Persistant Systems Ltd and roughly 2700 shares of NHPC. These were allotted to me.
Plz advise me what should i do?????

With regards
952. investor |Jun 16, 2010 17:34
bay this price target 450
951. seolace |May 6, 2010 21:12
Nice post, thanks for writing!
950. CHANDRA SINGH |Apr 29, 2010 23:35
Bought arround 100 shares at average price of 392. Let see what happens. Atleast hold till receive divident. Then will see what to do.
949. rkvsp |Apr 27, 2010 16:01
hi all

i am not yet receive my refund money for 6 lots.. any body receive refund money from intime

regards
ramakrishna
948. UR |Apr 26, 2010 09:53
What is the time period of 'short to medium term'
947. avishan |Apr 25, 2010 21:12
an EPS of Rs 10 in the last quarter, projected price for the short-medium term 500-600
946. sadiq |Apr 25, 2010 15:23
Thanks UR, I hope my recommendation benefits both of us. I am also holding Persistent in my portfolio. I suggest to sleep over this stock for next 2 months and do not pay attention to any news positive or negative.
945. RInvestor |Apr 25, 2010 10:41
A dividend of 2.50/share is not bad..it comes to 25%.Further the company has come up with excellent set of numbers...I expect the stock to rally to 450-500 in a month. Further it will continue to post excellent numbers for the next two quarters...
944. jai |Apr 24, 2010 19:30

Since listing persistent is around 400 and no major movement is seen in the stock and going down slowly slowly day by day.
Just company decleared dividend about Rs.2.5 per share, I think it will come down slowly slowly, what we think a upside movemenw will come. Persistent trading activity shown it will down to 310-325 in month time.

It is better to come out from persistent and switch over to Banking stock like ICICI bank, State bank of Bikaner and Jaipur, HDFC, SBI.




943. UR |Apr 24, 2010 14:54
Dear Sadiq,

Based on your recommendation I am holding this stock for short term(2months),let us see what happen.
942. pul |Apr 24, 2010 11:53
Rs.2.50 dividend per share
941. RInvestor |Apr 23, 2010 17:13
April 23 2010: Persistent Systems Q410 Revenue Grows 15.2% Y-o-Y; Fiscal 2010 Profits Increased by 70.2%

940. sadiq |Apr 22, 2010 13:09
Dear UR, my expectation is that within 2 months it will reach 450+. These expectations are based on the following factors
1. The company has above average fundamentals
2. Compared to other stocks in the IT sector Persistent is under valued
3. We did see it cross 420+ on listing day
4. it has strong support levels at 390 which is 80 rs more than than upper ipo price band of 310 (i.e. 25% more). Having this kind of response at a time when all other listed ipos have gone below issue price confirms the strong fundamentals of the company.
5. SBI Mutual Fund has bought more than 5.47 lakh shares of persistent at 423+ rs.
939. UR |Apr 22, 2010 09:35
Dear Sadiq,

what is your expected time to reach this stock to 450+ and what are the factors
938. sadiq |Apr 21, 2010 16:21
dear UR, i am not saying that there will not be further down than 410. all i am saying is that you can sell this at 450+ levels if you wait.
937. UR |Apr 21, 2010 15:48
Dear Sadiq,

You mean persistent share is safe at the price of Rs.410 and there will not be further down in this share price
936. sadiq |Apr 21, 2010 13:11
Dear UR, why are you so worried about Persistent. Just relax and sleep over it. Now they will announce dividend on 23rd April 2010 (Friday), so enjoy the dividend and your avg. cost will also reduce after you get the dividend. SO just leave the shares of persistent as it is and enjoy the real cream when the time comes.
935. UR |Apr 21, 2010 10:50
It was told number of big MF companies are taking position in this stock and it will move like ARSS,but it is showing down trend day to day.Is it right price(Rs410)to hold the shares for some time or better to move some other shares.Please give right feedback.
934. ds |Apr 19, 2010 12:53
dear friends i have 6324 shares of persistent @405.25 average what should i do right now i am thinking of waiting for next 6 months

thanks