Persistent delays IPO due to adverse market sentiment
Persistent systems’ IPO which was expected “any day now” has been hoping to raise Rs 400cr through this IPO by sellling about 12% of the company. They were expected to fund new facilities in Hinjewadi, Pune and Nagpur amongst other things. PSPL has been thinking of an IPO for at least two years now, with the intention of “building a bigger company.”
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