CRISIL Rating of Persistent Systems IPO
Persistent Systems (PSL) proposes to enter capital market with a public issue of 4,974,836 equity shares of face value Rs 10 at a targeted price of Rs 375 per share.CRISIL has rated the IPO Grade of ’4/5′ for the proposed public offer of the company.
Persistent Systems is a 17 year old company focusing exclusively on Outsourced Software Product Development. They offer services across the life cycle of the product – from R&D to Development, Testing, Support and Professional Services, thus allowing you to focus on your core competencies, while achieving time-to-market and cost advantage.They have filed for DRHP with Sebi to raise fund through IPO for further expansion plan .
For the year ended March 31, 2009, the company has reported net profit of Rs 66.09 crore on total income of Rs 600.68 crore. For the period of six months ended on September 2009, it has posted net profit of Rs 44.45 crore on total income of Rs 273.91 crore. It is a debt free company.
