Persistent Systems Limited — Capital/Financing Update 2023

Oct 9, 2023

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NSE & BSE / 2023-24 / 130

October 9, 2023

The Manager Corporate Services National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400 051

Ref: Symbol: PERSISTENT

The Manager Corporate Services BSE Limited 14[th] Floor, P J Towers, Dalal Street, Mumbai 400 001

Ref: Scrip Code: 533179

Dear Sir/Madam,

Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular bearing ref. no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 (‘the SEBI Circular’), we hereby inform you that the Company has issued a Letter of Comfort in favor of Persistent Systems Inc (Wholly Owned Subsidiary) on October 9, 2023. The requisite disclosure is attached as Annexure A.

This is for your information and record.

Please acknowledge the receipt.

Thanking you,

Yours Sincerely,

For Persistent Systems Limited

Digitally signed by Amit Amit Murari Atre Murari Atre Date: 2023.10.09 22:51:22 +05'30'

Amit Atre Company Secretary ICSI Membership No.: A20507

Encl: As above

Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLC056696

Tel: +91 (20) 670 30000 | Fax - +91 (20) 6703 0008 | E-mail - info@persistent.com | Website - www.persistent.com

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Annexure A:

Disclosure in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Circular

Disclosure in terms of Regulation 30 of theSEBIRegulations, 2015read with the SEBI Circular	(Listing Obligations and Disclosure Requirements)
Particulars	Details
Name of party for which such guarantees or	The Letter of Comfort has been issued to the
indemnity or surety has been given	HSBC Bank, USA in favour of Persistent Systems
	Inc (Wholly Owned Subsidiary). However, it is not
	issued in connection with any guarantee or
	indemnity.
Whether the promoter/ promoter group/ group	The Letter of Comfort has been issued in favour of
companies have any interest in this transaction? If	Persistent Systems Inc (Wholly Owned
yes, nature of interest and details thereof and	Subsidiary).
whether the same is done at “arm’s length”;	The Promoter or Promoter group or any other
	company in the group does not have any interest
	in this transaction.
Brief details of such guarantee or indemnity or	In view of the banking facility to be availed by
becoming a surety	Persistent Systems Inc (Wholly Owned Subsidiary)
	aggregating to USD 30 million, the Letter of
	Comfort has been issued by the Company on
	October 9, 2023, to affirm the maintenance of the
	beneficial ownership in the paid-up share capital of
	the aforesaid subsidiary.
	Further, the Letter of Comfort is not issued in
	connection with any loan, guarantee or indemnity
	and does not constitute a financial obligation on the
	Company.
Impact of such guarantees or indemnity or surety	Since it is in the ordinary course of business, there
on listed entity.	is no material impact or financial obligation on the
	Company

Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLC056696

Tel: +91 (20) 670 30000 | Fax - +91 (20) 6703 0008 | E-mail - info@persistent.com | Website - www.persistent.com

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