Indian information technology services companies are increasingly turning to debt financing to pursue large acquisitions, signalling a marked shift from the sector's long-held preference for debt-free balance sheets as they seek to strengthen artificial intelligence capabilities, expand into new markets and accelerate growth, The Times of India reported on July 2.
The trend gained further momentum after Persistent Systems secured a $1.5-billion bridge financing facility from Barclays to back its proposed acquisition of German IT services company Nagarro, ToI's report (by Shilpa Phadnis) said.
