Persistent Systems Allots ₹70 Billion NCDs

Persistent Systems Limited has approved the allotment of 700,000 Non-Convertible Debentures (NCDs) worth ₹70 billion on a private placement basis. The Series 1 Debentures are INR denominated, senior, rated, listed, and redeemable, with a face value of ₹0.10 million each. These debentures carry an interest rate of 8.95% per annum and have a tenure of two years, maturing on November 4, 2028. The allotment was approved at a Special Committee of the Board of Directors meeting held on November 4, 2026. The NCDs will be listed on the National Stock Exchange of India Limited. Security for the NCDs includes a first-ranking charge on a designated proceeds account and pledges over shares of Galaxy Germany Holding SE (Bidco) and Nagarro SE (Target) under specific conditions.