Persistent Systems provides outsourced software product development (OPD) services. Apart from catering to leading independent software vendors (ISVs), the company offers end- to-end solutions to smaller software product companies. It provides services across the value chain of product development – product conceptualisation, design, development, testing and support.
IPO Funds Will be used in following ways......
- Expanding its development facilities at pune and nagpur
- Procuring hardware
- To capitalise the company's subsidiaries
While there are no strict comparable peers, Hexaware Technologies and Sasken Communication are similar in size—the service profile and the space that Persistent operates in are different. At the upper price band, the IPO is priced at a PE of 11.7 times based on the company’s annualised 2009-10 EPS'. Considering its product profile, management traction and reasonably sound financials, investors with a long-term perspective can consider the issue.
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