Persistent Systems Secures 94.04% Of Nagarro Shares After Takeover Ends

Persistent Systems has successfully secured a 94.04% stake in Munich-headquartered digital engineering firm Nagarro SE, following the conclusion of its voluntary public takeover offer. The IT major acquired an additional 10.79% stake during the final acceptance phase, paving the way for a delisting. However, credit rating agency ICRA has placed Persistent’s ratings on Watch with Negative Implications on its proposed ₹5,000 crore NCDs to monitor leverage risks.