Software firm-Persistant Systems going for an IPO
Posted on August 4, 2008
Filed Under IPO news & discussion, Market News & Discussions |
IT companies are doing bad…oops..thats not true! A better sentence would have been IT stock prices have come down drastically. The rise of rupee was reason for that and now this is an old news. Currently the exchange rate of dollar/rupee is around rupees 42, increased from 39 - which is actually good for IT companies. A must read article about this:Rupee Vs. Dollar..things are changing now! So there is no reason we should not believe in IT companies successfully expanding their business.
Persistant Systems - a software company having development centers at Pune, Nagpur, Hyderabad, Goa and Bangalore is going for an IPO of 4,974,836 equity shares of Rs 10 each for cash at a price to be decided through a 100% book building process. Persistent is a strong IT firm with great clients like Microsoft from ages. They are also opting for pre-placement IPO . For further details please go through : Persistant Systems to tap capital markets:
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2 Responses to “Software firm-Persistant Systems going for an IPO”
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Ridhima Bhula on August 18th, 2008 4:01 pm
It is well known fact that IT companies have out-performed in the past. IT companies also support the Indian Economy. But the recent trends show that IT companies have given negative returns. Know more about investments on http://www.apnapaisa.com
Indian Equity Investment Guide on August 19th, 2008 7:33 pm
Hey Ridhima, you are wrong on that! I work in a software company and believe me the profits are up as usual! They have drastically cut down costs and they are very good in their business. Infact the clients and projects are increasing. The problem was only about the weakening dollar but now it has strengthed! Its about 43 INR per dolalr today - this is infact a good news for IT companies. Softwares will always be need for the world as they provide automation, they just cant be replaced!
Regards,
IEIG