Sunday, April 4, 2010

Persistent Systems IPO - Analysis,Subscription,Allotment,Listing

Persistent Systems Ltd is in the business of outsourced software product development (OPD) services. Company design, develop and maintain software systems and solutions, create new applications and enhance the functionality of existing software products. Company's main focus is in the area of telecommunications, life sciences and infrastructure and systems.

The IPO opens on March 17 and closes on March 19, 2010. The issue price is fixed at Rs 310, at higher end of price band of Rs 290-310 per share. The objective of the IPO are to establish development facilities, procure hardware etc.

The IPO got a bumper response from investors and was subscribed over 93 times. At the close of the IPO,
QII segment got subscribed by 144 times
NII segment got subscribed by 107 times
Retail segment got subscribed by 21 times
Employee reservation segment got subscribed by 0.6 times

Click here to check if you have been alloted Persistent Systems shares!

Shares of Pune-based Persistent Systems showed good performance on the listing day. A share closed at Rs 404.70, at a premium of 30.55% over its issue price of Rs 310 on the NSE. It touched an intraday high of Rs 447.30 and a low of Rs 361.60, which was the opening price. It traded with volume of 1.5 crore shares and saw a turnover of Rs 625 crore.


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