The mid-sized Indian IT firm will delist Nagarro shares from trading on the stock market of the Frankfurt Stock Exchange.
“The company secured 7,568,145 Nagarro shares, representing approximately 61.15% of the outstanding share capital, excluding treasury shares, during the offer’s acceptance period, which ended on September 17, 2026,” the Pune-headquartered company said in the filing.
Under applicable German takeover laws, an additional acceptance period of two weeks will begin on September 23 until October 6, 2026.
Nagarro shareholders who have not yet tendered their shares can accept the offer during this period at EUR 81 per share in cash, as per the purchase terms.
Persistent said it will provide further details after the additional acceptance period expires.
In June, Persistent announced takeover of Nagarro with a 22.10% stake under a share purchase agreement with its largest shareholder Lantano Beteiligungen GmbH. With the latest acquisition, its aggregate holding has crossed the minimum threshold of 50% plus one share required under the takeover offer.
“We have offered Nagarro shareholders an attractive opportunity to realize full and immediate value,” said Sandeep Kalra, chief executive officer of Persistent Systems.
The acquisition is expected to be fully complete by the end of first quarter of calendar year 2027.
Persistent said it intends to pursue a delisting of Nagarro shares from the regulated market (Prime Standard) of the Frankfurt Stock Exchange as soon as practicable and legally feasible.
On Tuesday, shares of Persistent Systems ended weaker by 1.52% at Rs 5,366.00 per share on the NSE and lower by 1.41% at Rs 5373 per share on the BSE.
