Corporate News
Persistent Systems Limited has issued three series of non-convertible debentures, Series 4, 5, and 6, each totaling INR 7,750 million, listed on the National Stock Exchange of India Limited. The debentures, each with a face value of INR 100,000, have a 5-year tenure, an 8.95% annual coupon rate, and a maturity date of November 4, 2031. Allotment occurred on November 4, 2026, with annual interest payments scheduled for November 4th from 2027 to 2030. The security structure includes a fixed charge on a designated proceeds account, pledges over shares of Bidco, Nagarro SE (prior to merger), and investments in AAA-rated debt securities, contingent on a merger between Galaxy Germany Holding SE and Nagarro SE. The debentures carry default interest penalties and are submitted in compliance with Listing Regulations.