Dev Information Technology has announced the withdrawal of its previously proposed convertible warrants issue, which was intended to raise ₹68.18 crores. The Board of Directors made this decision during their meeting held on December 26, 2025, citing strategic considerations and market conditions.

Original Fundraising Plan

The company had initially proposed to raise capital through the issuance of convertible warrants in October 2025. The fundraising structure was designed to strengthen the company's financial position through a preferential issue.

Board Decision and Rationale

The Board of Directors decided to withdraw the proposed preferential issue after a comprehensive review of prevailing business environment and market conditions. The decision was made in the overall interests of the company and its stakeholders.

Key Considerations for Withdrawal

Strategic Business Restructuring

The management is currently evaluating strategic business restructuring alternatives and potential collaborations. These initiatives aim to sharpen business focus, enhance operating efficiencies, and create long-term sustainable value for all stakeholders. The ongoing strategic review and its potential impact on capital requirements influenced the Board's decision.

Prudent Capital Planning

The Board believes it would be more prudent to reassess the timing, quantum, and structure of any future capital-raising exercise rather than proceeding with the previously approved preferential issue. This approach aligns with shareholder value considerations and strategic planning objectives.

Operational Impact

The company emphasized that the withdrawal of the proposed preferential issue does not affect its existing operations, commitments, or ability to meet ongoing financial obligations. The Board confirmed that this decision was taken after due deliberation with the objective of protecting and enhancing the interests of all shareholders.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 01:30 p.m. and concluded at 02:30 p.m. on December 26, 2025. The company remains committed to transparent disclosures and keeping stock exchanges and investors informed of any material developments, including fresh proposals for fundraising, restructuring, or strategic collaborations.

Dev Information Technology Limited has secured a consolidated order worth approximately ₹71.00 lakhs from Vishakha Group entities for enterprise software license procurement and professional services. This development marks a significant business opportunity for the IT services company.

Order Details and Scope

The consolidated order involves three entities within the Vishakha Group, demonstrating the comprehensive nature of the engagement:

Project Components

The order encompasses two primary service areas that showcase the company's technical capabilities:

License Procurement Services

The project includes acquisition and management of enterprise software licenses covering multiple technology platforms. The software portfolio comprises Microsoft 365, AvePoint, ManageEngine, and Vipre solutions, providing a comprehensive technology stack for the client organizations.

Professional Services

The technical implementation involves:

• Migrating more than 550 users from multiple tenant environments to a single tenant setup
• Full implementation of ManageEngine solutions designed to strengthen IT infrastructure and enhance security frameworks across the three entities

Strategic Significance

This engagement highlights Dev Information Technology's expertise in multi-vendor migrations and positions the company as a trusted partner for digital transformation initiatives. The order was secured through competitive bidding processes, demonstrating the company's ability to compete effectively in the enterprise IT services market.

Regulatory Compliance

The company confirmed that this order does not involve any related party transactions and maintains arm's length dealing principles. The promoter group has no interest in the entities that awarded the contract, ensuring transparent business practices.

The order reinforces Dev Information Technology's position in the enterprise IT services sector and demonstrates its capability to handle complex, multi-entity digital transformation projects within defined timelines.