Persistent Systems to Raise ₹6,000 Crore via NCDs for Nagarro Acquisition
Persistent Systems plans to raise over ₹6,000 crore through non-convertible debentures (NCDs) to fund its acquisition of Nagarro SE. The NCDs will have maturities ranging from one to five years, averaging three years. The company recently completed a QIP raising ₹4,264 crore and has secured 94% of Nagarro shares. The total deal value is about $1.25 billion, with additional debt financing planned.
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