Persistent sets ₹5,550 floor price for up to $450 million QIP

The QIP at a glance

How the floor price is set

A QIP is a share sale to qualified institutional buyers, such as mutual funds and insurance companies, rather than to the public at large. The floor price is the reference price from which the issue price is set. The filing says it was calculated under Regulation 176(1) of SEBI's ICDR rules, which govern capital issues, and that the relevant date for the issue is 21 Oct 2026.

The company may cut up to 5% from that floor price. The issue price will be set with the lead managers, and the filing does not give it. It also does not give the number of shares that will be issued.

Timing and recent filings

Shareholders approved the discount in a special resolution dated 5 Oct 2026. On 16 Oct 2026 the company also filed an intimation of approval of the terms of NCD and CP (commercial paper, or short-term debt) issuance.

The company's Q2 FY27 results, covered in our earlier article, show consolidated revenue of ₹4,688 crore and net profit of ₹352 crore for the quarter ended 30 Sep 2026. The company also said its insider trading window is closed for promoters, directors, key managerial personnel and designated persons, till further notice.

What the QIP means for shareholders

A QIP adds new shares to the company's capital. How much it raises depends on the final issue price and the number of shares allotted, and the filing gives neither. The ₹4,264.61 crore is the maximum size stated, not an amount already raised. The dated step in the filing is the opening of the issue on 21 Oct 2026, under the preliminary placement document.

Reference: Original filing (PDF)