Reserve Bank of India has issued a notice to Persistent Systems notifying that the foreign shareholding by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) under Portfolio Investment Scheme (PIS) in the company crossed the limit of 24% of its paid-up capital. Hence, no further purchases of shares of this company would be allowed through stock exchanges in India on behalf of FIIs/RFPIs.
Persistent Systems is a global company specializing in software product and technology services. Persistent develops best-in-class solutions in key next-generation technology areas including Analytics, Big Data, Cloud Computing, Mobility and Social, for the telecommunications, life sciences, healthcare, and banking & financial services verticals.
