Persistent Systems approves ₹7,000 crore NCD allotment
Persistent Systems allotted ₹7,000 cr of rated, listed NCDs through private placement, including two ₹1,500 cr series carrying an 8.95% coupon. OI Charts data showed the stock up 15.5% over 20 sessions with futures short covering.
after close1 source ↓machine-written, see hownot a recommendation
- PERSISTENT close
- ₹6,097
- On the day
- +0.76%
- Futures OI, short covering
- -3.3%
- Put-call ratio
- 0.63
- Max pain
- ₹5,800
Persistent Systems approved and allotted 700,000 rated, listed and redeemable non-convertible debentures on 4 Nov 2026 through a private placement. The NCDs have a face value of ₹1 lakh each and aggregate to ₹7,000 cr, giving the IT company a significant debt-financing transaction without issuing new equity.
The allotment was approved by the Special Committee of the Board during a meeting that began at 14:24 IST and ended at 14:44 IST. The issue was divided across four series. Series 1 and Series 2 each contain 150,000 NCDs worth ₹1,500 cr, with both carrying an 8.95% annual coupon. Series 1 matures on 4 Nov 2028, while Series 2 matures on 4 Nov 2029. The filing also disclosed annual coupon payment dates for the two series.
The securities for Series 1 and Series 2 include a first-ranking fixed charge over designated proceeds accounts and pledges linked to the Nagarro SE acquisition structure. This makes the transaction relevant to both the company’s funding profile and its ongoing acquisition-related obligations. The coupon creates a recurring financing cost, while the secured structure identifies assets or cash flows supporting the relevant debentures. 💻
OI Charts data for 3 Nov 2026 showed the stock at ₹6,097, up 0.76% on the day, with volume of 388,562 shares. The stock had gained 4.5% over five sessions and 15.5% over 20 sessions, but remained below its 52-week high of ₹6,599 recorded on 23 Dec 2025. In derivatives, futures open interest fell 3.3% to 3,466,000 shares, indicating short covering, while futures traded at a 0.31% discount to the underlying.
For the 23 Nov 2026 expiry, the put-call ratio stood at 0.63 and max pain was ₹5,800, according to OI Charts data. The largest call open interest was at ₹5,500 and the largest put open interest at ₹5,800. Traders will watch subsequent filings for details of Series 3 and Series 4, coupon servicing, and the use of proceeds, along with the 4 Nov 2028 and 4 Nov 2029 maturity dates. 📅
Source: Kalkine India, 04 Nov 2026
Not investment advice. For informational purposes only.