📰 ET Markets ⚪ NEUTRAL 🕒 29 Oct 2026, 06:41 AM IST

Persistent Systems to raise Rs 6,000 crore via NCDs for Nagarro deal

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Core Development: Persistent Systems to raise Rs 6,000 crore via NCDs for Nagarro deal

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Market & Financial Impact: Persistent Systems plans to raise more than ₹6,000 crore through non-convertible debentures for its Nagarro SE acquisition. The company successfully completed a QIP earlier this week, raising ₹4,264 crore. NCDs will range from one to five years, averaging three years in maturity. Persistent secured 94% of Nagarro shares after receiving shareholder offers this month. The total acquisition value is around $1.25 billion, with additional debt financing to be arranged.

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Actionable Insight: Monitor price volume action at market open; check key technical support/resistance levels.

The debt could be raised as early as next week as the IT company aims to complete its acquisition announced in June.

The Patna Municipal Corporation is set to launch ₹200 crore worth of municipal bonds, with bids opening on October 30. This move marks Bihar's inaugural bond issuance, sparking renewed enthusiasm for municipal bonds. Meanwhile, Kanpur Nagar Nigam is also gearing up to issue ₹125 crore soon. Early interest from investors like HUDCO and NaBFID indicates a growing momentum in the bond market, supported by governmental efforts to boost urban financing.

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Official Publisher Attribution: This report is aggregated from Economic Times. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.

Read Original Full Coverage on Economic Times ↗

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Persistent Systems to raise Rs 6,000 crore via NCDs for Nagarro deal

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