Persistent Systems' IPO outlook positive: Ashit Suri

ET Now caught up with Ashit Suri, Fundamental Research Analyst, JV Capital Services, to find out his take on the Persistent Systems' IPO.

Would you recommend subscription to Persistent Systems' IPO?

It's a good issue and it will be a good idea for people who have subscribed to this issue. It looks pretty promising and valuations are pretty attractive close to a little over 11 times. The company is into the outsourcing business product development model and the order flows are good.

The company has had a very good revenue growth over the past couple of years. It has been growing at over 40% and there is a lot of scope in the future. Therefore, people who have subscribed to it have good chances of making good gains on the listing and the story looks promising going ahead as well.