Persistent Systems Board Approves Up To USD 1.25 Billion Financing

Board approved debt financing up to USD1,250m and fundraising up to USD450m via ECB, NCDs, FCCBs, QIP or other permitted instruments; EGM and regulatory approvals required. Enables financing for the Nagarro control transaction, a step change from prior tuck-ins and internal funding. Could materially increase leverage and dilute shareholders; debt/equity mix, pricing, timing and final instruments remain undisclosed.