Persistent Systems Limited has announced its price band for its forthcoming IPO which opens on Wednesday the 17th of March and closes on Friday the 19th of March. The issue price band is Rs 290-310. The issue comprises of a fresh offering of 41,39,000 shares and an offer for sale for 12,80,706 shares. This makes the issue size 54,19,706 shares. There is a reservation for employees of 10% of the total issue which would then mean a net offer of 48,77,730 shares in all.

The company is Pune based and has been used an IPO grade of 4/5 by CRISIL indicating strong fundamentals.  The net issue would garner Rs 141.45 CRS AT THE LOWER PRICE BAND AND Rs 151.21 crs at the upper price band. The company intends to allot shares to anchor investors and the same would be done on Tuesday the 16th of March. The road-shows for the IPO kick off with Mumbai on Monday the 15th of March.