Persistent Systems Ltd, a Pune-based software services company, will hit the markets with its initial public offering (IPO) on 17 March 2010 and there has been a positive call from brokerages on its issue so far.
During FY10, the company’s earnings per share (EPS) will be around Rs25 compared to Rs21.41 in FY09. The forward price-earnings would be Rs11.92 considering the upper band of Rs310 per share. Mid-cap IT companies like Infotech Enterprises, Sasken Communications and KPIT Cummins Infosystems Ltd are currently trading at P/E ratios of 15.97, 7.29 and 10.99, respectively.
Monday, March 22, 2010
Persistent hits the market with its initial public offering
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