Promoters of Dev Information Technology Limited have executed a significant stake sale through open market transactions, reducing their collective shareholding by 13.16% of the company's total equity capital. The transaction was formally disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The share disposal was completed on December 31, 2025, involving two key promoter group members. The transaction details reveal a substantial reduction in promoter holdings:

Amisha Jayminbhai Shah sold 45 lakh shares, reducing her stake from 13.82% to 5.83%, while Pratibhaben Mhanlal Desai completely divested her entire holding of 29.13 lakh shares, bringing her stake to zero.

Company Share Capital Structure

The company's equity share capital remained unchanged following the transaction. Key capital structure details include:

Regulatory Compliance and Filing

The disclosure was filed on January 2, 2026, with both NSE and BSE, signed by Mrs. Amisha Jaimin Shah on behalf of the promoter group. The filing confirms that the transaction involved no encumbrances, voting rights other than equity shares, or convertible securities. All shares sold carried standard voting rights without any special conditions or restrictions.

Market Impact

The open market sale represents a significant change in the company's ownership structure, with promoter holding dropping from nearly one-fifth to less than 6% of total equity. The transaction was executed entirely through open market mechanisms, ensuring price discovery through regular trading channels.

The company's total diluted share capital remains at 11.27 crore equity shares post-transaction. The substantial reduction in promoter shareholding marks a notable shift in the company's ownership pattern, with the remaining promoter stake now concentrated with Amisha Jayminbhai Shah.

Dev Information Technology has announced a significant contract win, securing a ₹1.90 crore order from the Directorate of Food and Civil Supplies, an undertaking of Food Civil Supplies and Consumer Affairs Department Gujarat. This substantial order represents a major business opportunity for the IT services company in the government digitization sector.

Expanded Project Scope and Services

The comprehensive order encompasses multiple digital portal services that are crucial for Gujarat's digital infrastructure and citizen services. The project has been expanded to include additional platforms beyond the original scope:

The expanded scope now includes the Direct Benefit Transfer (DBT) Portal and Jan Seva & Digital Sevasetu App, significantly enhancing the project's impact on citizen services. These digital platforms are designed to streamline government services and improve accessibility to various state services for Gujarat residents.

Contract Terms and Execution Timeline

Dev Information Technology has committed to completing the entire project within approximately two months under a fixed-cost contract structure. The company has confirmed this is a domestic order with no related party transactions involved.

Strategic Market Position

This order represents a notable achievement for Dev Information Technology in the government digitization sector. The project involves critical citizen-facing applications that require robust database management systems and reliable digital infrastructure. The company's selection by the Food Civil Supplies and Consumer Affairs Department Gujarat demonstrates its technical competency in handling large-scale government IT projects.

The successful execution of this expanded project scope could potentially position Dev Information Technology for additional government contracts and strengthen its presence in the public sector IT services market, particularly in essential citizen service delivery systems.