Dev Information Technology Board Meeting: ESOP Allotment and Strategic Investments
Dev Information Technology Limited announced comprehensive board meeting outcomes including ESOP allotment of 28,482 shares under employee stock option plan, strategic investment in Byte Technosys Private Limited acquiring 28.50% stake, and approval of corporate guarantee up to Rs. 130.75 lakhs for wholly owned subsidiary Dhayey Consulting Services.
*this image is generated using AI for illustrative purposes only.
Dev Information Technology Limited announced the outcome of its board meeting and Nomination and Remuneration Committee meeting held on March 27, 2026, at 04:30 P.M. at the company's registered office. The board approved multiple strategic initiatives including employee stock option allotments, strategic investment in Byte Technosys Private Limited, and corporate guarantee for its wholly owned subsidiary.
ESOP Allotment Under Employee Stock Option Plan
The Nomination and Remuneration Committee approved the allotment of 28,482 equity shares under the "Dev Information Technology Limited Employee Stock Option Plan – 2018" to eligible employees who exercised their stock options. The allotment details are:
| Parameter: | Details |
|---|---|
| Shares Allotted: | 28,482 equity shares |
| Face Value: | Rs. 2.00 per share |
| Exercise Price: | Rs. 24.50 per stock option |
| Money Realized: | Rs. 6,97,809 |
| Total Options Vested: | 1,67,340 equity shares |
| Options Lapsed: | 1,38,858 |
The stock options were originally granted on January 17, 2025, with 66,936 options initially issued at a face value of Rs. 5.00 per share. Following a stock split effective August 21, 2025, the face value was subdivided to Rs. 2.00 each, and the ESOPs were adjusted retrospectively. The allotted shares rank pari passu with existing equity shares, and no shares were allotted to company directors.
Strategic Investment in Byte Technosys Private Limited
The board approved investment in 3,986 equity shares of Byte Technosys Private Limited, a company engaged in IT infrastructure management services including remote server monitoring and helpdesk support. The investment parameters are:
| Investment Parameter: | Details |
|---|---|
| Target Company: | Byte Technosys Private Limited |
| Shares Acquired: | 3,986 equity shares |
| Investment Amount: | Rs. 3,86,642 |
| Ownership Stake: | 28.50% |
| Consideration Type: | Cash investment |
Byte Technosys Private Limited, incorporated on January 6, 2006, has an authorized share capital of Rs. 1,00,000 divided into 10,000 equity shares of Rs. 10.00 each. The company's financial performance shows:
| Financial Year: | Turnover |
|---|---|
| FY 2024-25: | Rs. 729.98 |
| FY 2023-24: | Nil |
| FY 2022-23: | Rs. 49.78 |
The investment aims to boost the startup ecosystem, advance intellectual properties, and serve as a fundraising catalyst for future growth opportunities.
Corporate Guarantee for Wholly Owned Subsidiary
The board approved extending a corporate guarantee for Dhayey Consulting Services Private Limited, the company's wholly owned subsidiary, to secure working capital and short-term facilities from The Kalupur Commercial Co-op Bank.
| Guarantee Details: | Information |
|---|---|
| Beneficiary: | Dhayey Consulting Services Private Limited |
| Bank: | The Kalupur Commercial Co-op Bank |
| Guarantee Amount: | Up to Rs. 130.75 lakhs |
| Purpose: | Working capital and short-term facilities |
| Transaction Basis: | Arm's length |
The guarantee will be disclosed as a contingent liability in the company's financial statements, with no immediate impact on operations other than supporting the subsidiary's financing requirements.
Updated Capital Structure
Following the ESOP allotment, Dev Information Technology Limited's paid-up capital structure has been updated:
| Capital Component: | Post-Issue Position |
|---|---|
| Number of Shares: | 5,63,63,714 |
| Paid-up Capital: | Rs. 11,27,27,428 |
The board meeting commenced at 04:30 P.M. and concluded at 05:05 P.M., with all decisions made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has submitted detailed disclosures to stock exchanges as required under Regulation 30, with Company Secretary Krisa Shah signing the regulatory filing.
How will the 28.50% stake in Byte Technosys impact Dev Information Technology's revenue diversification strategy given the target company's volatile turnover history?
What are the potential risks and mitigation strategies for the Rs. 130.75 lakhs corporate guarantee, especially considering it's with a cooperative bank?
Will Dev Information Technology expand its ESOP program further in 2026-27 given that 82.97% of vested options lapsed in this round?
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
