Persistent Systems shareholders formally approved the proposed Voluntary Public Takeover Offer for Nagarro SE through its wholly owned subsidiary, Galaxy Germany Holding SE, during the company’s 36th Annual General Meeting (AGM) held on August 3, 2026. The resolution passed with 99.99% support from public non-institutional investors and unanimous backing from promoters, reflecting strong conviction in the strategic combination aimed at creating a scaled, globally diversified AI-led digital engineering powerhouse. Alongside the acquisition approval, shareholders endorsed related financing arrangements, including corporate guarantees and the creation of charges by Persistent Systems on behalf of the subsidiary, which will facilitate the transaction under German law.

The AGM, conducted in hybrid mode from the Dewang Mehta Auditorium in Pune, addressed routine business items and governance matters. Shareholders adopted the Audited Standalone and Consolidated Financial Statements for FY26. The Board of Directors recommended a Final Dividend of ₹18 per equity share of ₹5 each, confirming the earlier Interim Dividend of ₹22 per equity share, aggregating to a total dividend payout of ₹40 per equity share for FY26. Dr. Anand Deshpande, Chairman and Managing Director, was reappointed after retiring by rotation, securing 99.61% support.

Four independent directors were reappointed for second terms, with all special resolutions passing with requisite majorities as confirmed by scrutiniser SVD & Associates on August 4, 2026:

The voting process included remote e-voting through National Securities Depository Limited (NSDL) from July 29, 2026, to August 2, 2026, with a cut-off date for voting rights on July 27, 2026. Sandeep Kalra, Chief Executive Officer and Executive Director, stated that the complementary strengths of Persistent and Nagarro make the strategic case clear, aiming to build one of the world's leading AI-led digital engineering companies.

Regulatory Compliance and Next Steps

The proceedings were conducted pursuant to Regulation 30 read with Schedule III (Part A)(13) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Voting results for Resolution No. 11 (creation of charge/pledge) and Resolution No. 12 (material related party transactions) were considered under Regulation 37A and Regulation 23 of the Listing Regulations, respectively.

The formal Offer Document, detailing the cash offer terms, will be published following approval by the German Federal Financial Supervisory Authority (Bafin). The offer will be implemented exclusively under German law, specifically the German Securities Acquisition and Takeover Act (WpÜG), and certain US securities laws. Nagarro shareholders are advised to visit www.galaxy-offer.com for further information once the document is available.

What the Numbers Show

The near-unanimous approval (99.99%) signals robust shareholder confidence in Persistent Systems' inorganic growth strategy. By utilizing Galaxy Germany Holding SE as the acquisition vehicle, the company structures its international expansion through dedicated subsidiaries, likely optimizing regulatory compliance and financial risk management in European markets. The simultaneous approval of corporate guarantees indicates the acquisition may be leveraged, requiring monitoring of debt levels and cash flow implications in future filings.

Persistent Systems Limited has disclosed the outcome of its non-deal roadshow held on Tuesday, August 4, 2026, confirming engagements with several institutional investors. The company informed the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that no unpublished price-sensitive information was shared during these sessions. Management reiterated details from its earnings call on Monday, August 3, 2026, which covered results for the quarter ended June 30, 2026.

The roadshow aimed to maintain transparency with the investment community. Persistent Systems emphasized that all interactions were strictly confined to publicly available information to ensure fair disclosure across market participants. The sessions included both one-on-one meetings and a group discussion with various financial institutions.

The schedule for the confirmed interactions on August 4, 2026, is as follows:

Amit Atre, Company Secretary of Persistent Systems Limited, signed the disclosure filed on August 4, 2026. The company previously intimated the exchanges about the upcoming roadshow on July 30, 2026. The second day of engagements, scheduled for Wednesday, August 5, 2026, includes meetings with Invesco Mutual Fund, UTI Mutual Fund, Motilal Oswal Mutual Fund, Tata Mutual Fund, and Axis Mutual Fund.

What the Numbers Show

The confirmation of these meetings underscores the company's commitment to regular investor communication following its quarterly results announcement. By restricting discussions to publicly available data, Persistent Systems ensures compliance with regulatory standards while keeping institutional stakeholders informed about its performance for the quarter ended June 30, 2026.