Persistent Systems IPO has been made available from March 17, 2010. The company has cash and investments worth Rs.1.5 billion and net worth Rs. 4.9 billion as of December 31, 2009. For the last four years, Persistent Systems remained a “zero debt company.” The company issued 5,419,706 shares to be priced between Rs 290-310 per share. The offerings will close on March 19, 2010.
Persistent Systems Ltd. is an Indian technology company that specializes in outsourced software product development (OPD). The company designs develops and maintains software systems and solutions, creates new applications, and enhances functionality of its customers’ existing software products. Established in 1990 by Dr. Anand Deshpande, Persistent System’s headquarter is located in Pune India. In the last five years, the company has delivered more than 2,000 software product releases to its more than 190 customers.
Persistent Systems is a multi-national company with it offices and nine development centers located in Europe, America and Asia. In Pune, Persistent Systems operates from three buildings- Bhageerath, Pingala and Aryabhata. The company has a large team of skilled IT professionals. The Bhageerath building is considered to be one of the architectural landmarks of Pune. The company also has its branch offices in Nagpur, Goa, Hyderabad and Bangalore.
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