Persistent Systems Ltd has secured an additional 10.79% stake in Nagarro SE during the extended acceptance period of its voluntary public takeover offer, taking its aggregate shareholding in the German IT services firm to approximately 94.04%, the Pune-based company said in an exchange filing.
The company said it acquired 13,35,114 shares, representing approximately 10.79% of Nagarro’s outstanding share capital excluding treasury shares, during the additional acceptance period that ran from September 23 to October 6, 2026.
This builds on the roughly 61.15% stake Persistent had already secured during the original acceptance period of the offer, between August 6 and September 17, 2026, as well as a further 22.10% acquired under a share purchase agreement with Lantano Beteiligungen GmbH. Taken together, the three tranches give Persistent an aggregate holding of approximately 94.04% in Nagarro, excluding treasury shares, as of October 6, 2026.
The shares of the company ended 5% higher in the session on Friday, October 9. The stock has fallen 8% in the year so far.
In the first quarter of FY27, Persistent Systems reported an 8.7% sequential decline in net profit, while revenue rose on the back of continued deal momentum and strong client spending. The IT services company posted a net profit of ₹483 crore for the June quarter, compared with ₹529 crore in the previous quarter. Revenue increased 6% quarter-on-quarter to ₹4,303 crore from ₹4,056 crore.
In dollar terms, revenue rose 3.8% sequentially to $452.4 million from $436 million in the March quarter. Operating performance was stable during the quarter, with earnings before interest and tax (EBIT) increasing by 4.2% quarter-on-quarter to ₹686.9 crore from ₹659 crore. The EBIT margin stood at 16%, compared with 16.2% in the preceding quarter.
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