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December 23, 2012

Deal Alert: Norwest exits Persistent Systems; sells remaining shares worth Rs.36-Cr for 4.20x return

Norwest Venture Partners has sold its remaining 719,581 shares of publicly listed IT services firm, Persistent Systems Ltd. on BSE worth Rs.36 Crores at Rs.500.72 per share on Dec 21, 2012. This constitutes 1.80% of total outstanding shares of Persistent Systems Ltd.  

From the Venture Intelligence PE Deal database: In Nov 2005, Norwest Venture Partners invested INR 63.06 Cr for 15.01% stake and made its first part exit Nov 2012.

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