New Delhi:IT firm Persistent Systems has opened a qualified institutional placement (QIP) to raise up to $450 million, or about Rs 4,265 crore, and set the floor price at Rs 5,550 per share. The company informed the stock exchanges that its special committee of the board approved the opening of the issue, the floor price and the preliminary placement document. The floor price was set at Rs 5,550 per equity share, under SEBI’s pricing formula. The company may offer a discount of up to five per cent on the floor price, in line with the approval accorded by members through a special resolution on October 5, it said. “The issue size will comprise such number of equity shares of the company aggregating up to $450 million equivalent to Rs 42,646.10 million, computed on the basis of the RBI/FBIL reference rate of Rs 94.7691 per $as on October 19, 2026,” Persistent said in the BSE filing.