Persistent Systems to seek up to $450 million QIP for Nagarro
Persistent Systems is gearing up to raise up to $450 million through a qualified institutional placement (QIP) to help fund its big purchase of German tech company Nagarro, which was announced in June 2026 for about $1.45 billion.
The company has been meeting with investors and looks ready to kick off the fundraising soon.
Persistent seeks to replace €1.4B loan
This QIP is not just about buying Nagarro: it's also part of Persistent's move to swap out a hefty €1.4 billion bridge loan for more stable, long-term financing.
Shareholders have already given the green light for a mix of debt and equity funding, with major banks like J.P. Morgan, IIFL Capital, and HSBC Securities on board as advisors.
If all goes smoothly with regulators, Persistent hopes to wrap up the Nagarro deal by late 2026 or early 2027, aiming to build a stronger AI-focused digital engineering group.