Persistent Systems lists with 29 pct premium

On the National Stock Exchange the scrip listed 16.65 per cent higher at Rs 361.60. It touched a high of Rs 447.30,up 44.29 per cent over the issue price.

The company today listed four crore shares at an issue price of Rs 310 on the two bourses.

On the volume front,over one crore shares changed hands on the two bourses within the first hour of trade.

The Pune-based company,which is engaged in niche offshore software product development services,had raised about Rs 168 crore from the capital markets last month through an initial public offer IPO.

The issue was priced in a band of Rs 290-310 and was oversubscribed 93.6 times at the end of final day.

The company would utilise the IPO proceeds for expanding it8217;s development facilities,procuring hardware and to capitalise its subsidiaries.