See good response to Persistent Systems IPO: Udayan

Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Persistent Systems IPO opens today Subscribe to Persistent Systems IPO: Hem Securities Persistent Systems eyes Rs 167cr from IPO

The initial public offering (IPO) of Persistent Systems has opened for subscription today. The 54,19,706 equity shares IPO, which closes on March 19, consists of a fresh issue of 41,39,000 equity shares and an offer for sale of 12,80,706 equity shares by Dr Shridhar Bhalchandra Shukla and Vijayalaxmi Shridhar Shukla and Ashutosh Vinayak Joshi.

The company will raise around Rs 157.17-168 crore at price band of Rs 290-310 per equity share. Promoters' holding will be reduced to 38.83% from 43.31% post issue.

Udayan Mukherjee, Managing Editor, CNBC-TV18, says Persistent Systems will be oversubscribed quite significantly because it is in a niche space.

Here is a verbatim transcript of Udayan Mukherjee's comments on CNBC-TV18. Also watch the accompanying video.

It is a good one. The good thing about the primary market is if you take out the government paper, I think you are getting some very interesting stories which are coming in and some of them reasonably priced as well. So it started with Jubilant and then you had a couple of infrastructure initial public offerings (IPOs) which are pretty good, the recent one ITNL did pretty well.