Persistent Systems IPO opens for subscription

The Initial Public Offering (IPO) of Persistent Systems Limited opened for subscription by investors today - March 17, 2010.

The company has come out with IPO of 5,419,706 equity shares of Rs 10 each for cash at a price band of Rs.290 to Rs. 310 through 100% book building process.

Enam Securities Private Limited and J.P. Morgan India Private Limited are the Book Running Lead Managers to the issue. Enam Securities Private Limited and J.P. Morgan India Private Limited are the syndicate members to the IPO.

The Minimum Order Quantity is 20 Equity Shares and in multiple of 20 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.100000.

The Rating Agency CRISIL Ratings has assigned IPO grading of 'IPO Grade 4'.

Link Intime India Private Limited is the registrar to the company. The IPO closes for subscription on March 19, 2010.

Source : Equity Bulls

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