Persistent Systems Ltd.'s shares fell as low as 3.32% in early trade after the board approved plans to raise up to $1.25 billion (Rs 11,809 crore) through debt and equity-linked instruments, opening the possibility of a fundraise that could include equity dilution.
The shares lowest intraday level came in at Rs 5,501 apiece on the NSE, as against a 0.31% advance in the Nifty index on Thursday
The stock pared some losses to trade 1.7% lower at Rs 5,593.50 by 9:32 a.m.
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