{
  "id": 18218863,
  "title": "Persistent raises Rs 7,600 crore to wrap up funding for Nagarro SE deal",
  "url": "https://urgent.news/2026/11/05/persistent-raises-rs-7-600-crore-to-wrap-up-funding-for-nagarro-se",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-05T00:45:14.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/bonds/persistent-raises-rs-7600-crore-to-wrap-up-funding-for-nagarro-se-deal/articleshow/135555133.cms"
  },
  "original_language": "en",
  "account": "Persistent Systems, an IT company, has raised ₹7,600 crore through the issuance of non-convertible debentures (NCDs) of various tenures to finalize the acquisition of Nagarro SE. The company issued ₹1,500 crore each in two and three-year bonds, and nearly ₹2,000 crore each in four and five-year bonds as part of its financing efforts. A portion of the four and five-year NCDs, valued at ₹1,250 crore, was set aside for general corporate purposes. The entire NCD issuance was priced at a 8.95% coupon, and the largest buyers included top mutual funds, NBFCs, and insurance companies. The total order book was more than double the required amount, with investors purchasing an approximate ₹15,000 crore. Additionally, Persistent Systems separately raised ₹600 crore through a one-year commercial paper with a 8.75% rate. These funds, alongside the ₹4,264 crore raised through a qualified institutional placement last week, will enable the company to complete the acquisition, which was previously announced in June. HSBC, Kotak Mahindra Bank, and Barclays acted as the bankers for this issue.",
  "summary": "Persistent Systems has made waves in the financial market by securing ₹7,600 crore through non-convertible debentures aimed at funding its acquisition of Nagarro SE. This bold move saw bonds varying from two to three years issued, with demand soaring above ₹15,000 crore, attracting top investors. Additionally, the company successfully raised ₹600 crore with a one-year commercial paper at an…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}