Dev Information Technology Limited has announced a strategic move to raise ₹68.18 crore through the issuance of 1.5 crore convertible warrants. The company’s Board of Directors approved the preferential allotment to Aeroflex Enterprises Limited, a non-promoter entity, marking a key step in bolstering its financial position and supporting future growth initiatives.
Details of the Convertible Warrant Issuance
The convertible warrants are priced at ₹45.45 each and will be convertible into 1.5 crore equity shares with a face value of ₹2 per share upon conversion. The issuance is subject to shareholder approval and regulatory clearances as per SEBI guidelines, ensuring compliance with market regulations.
This capital-raising initiative is expected to strengthen Dev Information Technology’s balance sheet, enabling the company to invest further in its core IT services and digital transformation solutions.
Shareholder Approval and EGM
The company will seek approval from shareholders at an Extra-Ordinary General Meeting (EGM) scheduled for November 18, 2025. The meeting will be conducted via video conferencing or other audio-visual means, ensuring participation and transparency for all shareholders. Regulatory approvals will also be obtained as part of the preferential allotment process.
Summary:
Dev Information Technology plans to raise ₹68.18 crore by issuing 1.5 crore convertible warrants to Aeroflex Enterprises Limited. Subject to shareholder and regulatory approvals, this move will strengthen the company’s financial position, enabling growth and expansion in its IT and digital transformation services.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.