The company secured 7,568,145 Nagarro shares, representing approximately 61.15% of the outstanding share capital, excluding treasury shares, during the offer’s acceptance period, which ended on September 17, 2026, Persistent said in an exchange filing.
Persistent had previously acquired a 22.10% stake in Nagarro under a share purchase agreement with Lantano Beteiligungen GmbH. With the latest acquisition, its aggregate holding has crossed the minimum threshold of 50% plus one share required under the takeover offer.
Under applicable German takeover laws, an additional acceptance period of two weeks will begin on September 23 and run through October 6, 2026.
Nagarro shareholders who have not yet tendered their shares can accept the offer during this period at EUR 81 per share in cash.
Persistent said it will provide further details after the additional acceptance period expires.
Shares of Persistent Systems ended lower on Tuesday, September 22, by 1.52% at ₹5,366.00 on the NSE.
Persistent plans Nagarro delisting
Persistent intends to pursue the delisting of Nagarro shares from the regulated market (Prime Standard) of the Frankfurt Stock Exchange as soon as practicable and legally feasible.
The transaction is expected to close by the end of the first quarter of calendar year 2027, the company said.
Earlier this month, Persistent Systems said it expects the combined business with Nagarro to maintain a strong growth profile, with management aspiring for mid-teen or higher growth over the next two to three years.
The Pune-based IT services company is also working on a funding plan of up to $1.25 billion as it prepares for the next stage of the proposed Nagarro acquisition.
Persistent Systems Executive Director and CEO Sandeep Kalra said the company expects Nagarro’s growth to improve gradually and converge with Persistent’s performance over time.
“We have said publicly, over the next two to three years, we expect it to normalise and the two companies to grow in the mid-teens or higher. That is our aspiration. It’s not a forward-looking guidance. We don’t give forward-looking guidances,” Kalra said.
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