Persistent Systems Limited has approved the merger of its wholly-owned subsidiary MediaAgility India Private Limited into itself as part of an internal restructuring exercise. The board of directors approved the proposal at its meeting held on June 8, 2026.
MediaAgility India Private Limited, a wholly owned subsidiary operating in the ITES sector, will be absorbed by Persistent Systems, the holding company. The merger is subject to receipt of necessary statutory approvals from relevant authorities.
MediaAgility India reported a turnover of Rs 36.56 crore for the fiscal year ended March 31, 2026. Persistent Systems posted a turnover of Rs 14,427.96 crore for the same period. MediaAgility's paid-up capital stood at Rs 3.21 crore, comprising 3,207,490 equity shares of Rs 10 each.
Persistent Systems had a paid-up capital of Rs 78.88 crore, comprising 157,750,000 equity shares of Rs 5 each. Since MediaAgility India is a wholly owned subsidiary, the transaction does not fall under related party transaction provisions. No cash consideration or share exchange ratio has been proposed for the merger.
The merger is intended to achieve entity rationalisation and operational efficiency within the group. The shareholding pattern of Persistent Systems will remain unchanged following the amalgamation. Persistent Systems will seek necessary approvals from statutory authorities to complete the merger process.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.