News ArticlePersistent Systems Issues INR 6 Billion Commercial Paper at 8.75% Yield Due November 2027
12,000 commercial papers each valued at INR 500,000 allotted on November 5, 2026, with ICICI Bank as issuing and paying agent
Persistent Systems Limited has allotted 12,000 commercial papers worth INR 6 billion with a 1-year maturity and an 8.75% yield rate, listed on the National Stock Exchange of India and issued through ICICI Bank as the paying agent.
Persistent Systems Limited
Corporate Action
Persistent Systems Limited has successfully allotted 12,000 commercial papers worth INR 6 billion on November 5, 2026. Each commercial paper has a face value of INR 500,000 and carries a yield rate of 8.75% with maturity set on November 5, 2027.
The commercial papers are listed on the National Stock Exchange of India Limited under ISIN INE262H14016.
The issue price per security was INR 459,770 out of the face value of INR 500,000 each, reflecting the discount rate of 8.75%.
The tenor of the commercial paper is one year from the allotment date, with no coupon or periodic interest payments as it is issued at a discount.
ICICI Bank Limited is named as the issuing and paying agent for this commercial paper issuance.
There are no special rights, privileges, charges, or securities created against the commercial papers, and no defaults or delays in payment have been reported.
Highlights
- Total size of commercial paper issue: INR 6.00 billion
- Number of commercial papers allotted: 12,000
- Face value per commercial paper: INR 500,000
- Issue price per paper: INR 459,770
- Tenure: 1 year from November 5, 2026 to November 5, 2027
- Yield and discount rate for the CPs: 8.75% per annum, issued at discount price matching the yield rate on maturity date at par value of INR 500,000 each
Key Data Snapshot
What happened
- Persistent Systems allotted 12,000 commercial papers aggregating to INR 6 billion on November 5, 2026.
- Each commercial paper has a face value of INR 500,000 and was issued at INR 459,770 reflecting a yield and discount rate of 8.75%.
- The commercial papers have a tenure of one year, maturing on November 5, 2027.
Key details
- The issuance is listed on the National Stock Exchange of India Limited under ISIN INE262H14016.
- ICICI Bank Limited is the issuing and paying agent for this CP issuance.
- No coupon or periodic interest payments will be made; the securities are issued at a discount and redeemed at face value on maturity.
- No charges, security, special rights, or privileges are attached to these commercial papers.
- There have been no defaults or delays in payment related to these securities.
Highlights
- Total size of commercial paper issue: INR 6.00 billion
- Number of commercial papers allotted: 12,000
- Face value per commercial paper: INR 500,000
- Issue price per paper: INR 459,770
- Tenure: 1 year from November 5, 2026 to November 5, 2027
- Yield and discount rate for the CPs: 8.75% per annum, issued at discount price matching the yield rate on maturity date at par value of INR 500,000 each
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Regulation 30
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