Deal Alert: SAIF buys Persistent Systems shares worth Rs.55-Cr as Norwest sells addl shares worth Rs.90-Cr

NSE

Norwest Venture Partners has sold an additional 1,845,000 shares of publicly listed outsourced product development firm Persistent Systems Ltd. on NSE worth Rs.90.41 crores at Rs.490 per share on Dec19, 2012. This constitutes 4.61% of total outstanding shares of Persistent Systems Ltd. Of these, another PE investor, SAIF Partners bought 1,120,000 shares (or 2.80%) worth Rs.54.88 Crores.