Dev Information Technology Limited (DEVIT) has announced plans to raise funds through the issuance of convertible warrants on a preferential basis. The company's board of directors has approved the proposal, which is now subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM) scheduled for November 18, 2025.

Key Details of the Warrant Issue

• Number of Warrants: Up to 1,50,00,000 (1.5 crore)
• Issue Price: ₹45.45 per warrant
• Total Fund Raise: Up to ₹68.18 crore
• Conversion Ratio: Each warrant convertible into one equity share
• Face Value of Resulting Shares: ₹2 each
• Conversion Period: Within 18 months from the date of allotment
• Allottee: Aeroflex Enterprises Limited (Non-promoter)

Payment Terms

• 25% of the issue price to be paid upfront
• Remaining 75% payable upon conversion of warrants into equity shares

Proposed Fund Utilization

Impact on Shareholding

Post-conversion, Aeroflex Enterprises Limited is expected to hold a 21.03% stake in Dev Information Technology Limited, assuming full subscription and conversion of the warrants.

Regulatory Compliance

The company has stated that the warrants will be subject to lock-in provisions as per SEBI regulations. The relevant date for pricing the warrants has been set as October 17, 2025.

EGM Details

The Extraordinary General Meeting to seek shareholder approval for this preferential issue is scheduled for November 18, 2025, at 04:00 P.M. through Video Conferencing (VC) / Other Audio Visual Means (OAVM).

This move by Dev Information Technology Limited appears to be aimed at strengthening its financial position and supporting various growth initiatives. Investors and stakeholders will be closely watching the outcome of the EGM and the subsequent developments in this fundraising effort.

Dev Information Technology Limited (DEVIT) has announced a plan to bolster its financial position through a preferential issue of convertible warrants. The company's board of directors has approved a proposal to raise funds by issuing warrants to Aeroflex Enterprises Limited, a non-promoter entity.

Key Details of the Warrant Issue

Regulatory Approvals and Shareholder Meeting

The proposed warrant issue is subject to several regulatory and shareholder approvals:

• Approval from regulatory and statutory authorities
• Shareholder approval at an upcoming Extraordinary General Meeting (EGM)
• Other necessary permissions and sanctions

The company has scheduled an EGM for November 18, 2025, to be held via video conferencing or other audio-visual means, where shareholders will vote on this proposal.

Board Meeting Details

The decision was made during a board meeting held on October 18, 2025, which commenced at 10:15 AM and concluded at 11:05 AM. The company has informed the stock exchanges about this development, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Implications and Next Steps

This move by Dev Information Technology Limited signifies an effort to raise capital, potentially for expansion or strengthening its financial position. The preferential allotment to a non-promoter entity could also indicate interest from external investors in the company's future prospects.

Investors and stakeholders will be watching the outcome of the EGM and the subsequent steps in this fundraising process. The successful completion of this warrant issue could provide DEVIT with financial resources to pursue its growth objectives.

As the company moves forward with this initiative, it will need to navigate the regulatory landscape and secure the necessary approvals to bring this fundraising plan to fruition.