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December 19, 2012

Deal Alert: SAIF buys Persistent Systems shares worth Rs.55-Cr as Norwest sells addl shares worth Rs.90-Cr


Norwest Venture Partners has sold an additional 1,845,000 shares of publicly listed outsourced product development firm Persistent Systems Ltd. on NSE worth Rs.90.41 crores at Rs.490 per share on Dec19, 2012. This constitutes 4.61% of total outstanding shares of Persistent Systems Ltd. Of these, another PE investor, SAIF Partners bought 1,120,000 shares (or 2.80%) worth Rs.54.88 Crores. 

From the Venture Intelligence PE Deal database: In Nov 2005, Norwest Venture Partners invested INR 63.06 Cr for 15.01% stake. 

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