Key Details
Symbol (NSE): PERSISTENT
Corporate Action
Merger by absorption of wholly-owned subsidiary into holding company
Record Date
Not Specified
Nature of Scheme
Merger by absorption as part of internal restructuring
Entities Involved
Transferor Company: MediaAgility India Private Limited (Wholly Owned Subsidiary)
Transferee Company: Persistent Systems Limited (Holding Company)
Share Entitlement Ratio
Not applicable (merger by absorption of wholly-owned subsidiary)
Implied Capital Structure Impact
Not Specified
Post-Allotment Listing Plan
MediaAgility India Private Limited will be absorbed into Persistent Systems Limited, which is already listed
Regulatory and Approval Status
Board of Directors approved the merger on June 8, 2026
Subject to receipt of necessary statutory approvals under Companies Act, 2013
Effective Date
Not Specified
Financial Rationale
To achieve entity rationalization and operational efficiency within the group
Financial Metrics
MediaAgility India Private Limited (Transferor):
- Paid-up Capital (as of March 31, 2026): 3,207,490 Equity Shares of ₹10 each (₹32.07 million)
- Turnover (FY26): ₹365.55 million
Persistent Systems Limited (Transferee):
- Paid-up Capital (as of March 31, 2026): 157,750,000 Equity Shares of ₹5 each (₹788.75 million)
- Turnover (FY26): ₹144,279.59 million
Regulatory Compliance Aspects
The transaction does not qualify as related party transaction requiring compliance under:
- Ministry of Corporate Affairs General Circular No. 30/2014 dated July 17, 2014 (exemption from Section 188 of Companies Act, 2013)
- Regulation 23(5)(b) of SEBI (LODR) Regulations, 2015 (exemption from related party transaction provisions)
Business Area
MediaAgility India Private Limited is engaged in ITES (Information Technology Enabled Services)
Impact on Shareholders
Not applicable (no change in shareholding pattern disclosed)