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Apply for Persistent IPO, target of Rs 350: Swastika
Swastika Investmart has come out with a research report on Persistent Systems' IPO. The broking firm has recommended applying for the IPO with price target of Rs 350 in medium term.
Swastika Investmart has come out with a research report on Persistent Systems' IPO. The broking firm has recommended applying for the IPO with price target of Rs 350 in medium term.
The initial public offering (IPO) of Pune based software product development company opened for subscription. The company will raise around Rs 157.17-168 crore at price band of Rs 290-310 per equity share via 54,19,706 equity shares issue.
The report says, "Persistent Systems, an Outsourced Software Product Development (OPD) Company aims to raise funds from IPO for developing facilities in Pune, Nagpur alongwith acquiring new hardware and other general corporate purposes. Considering the strong financial performance shown by company in past and its future potential we recommend applying for the IPO with price target of Rs 350 in medium term. Good listing gains can also be seen if market sentiments in general remain good."
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