Dev Information Technology Limited , a global IT services company, has announced its financial results for the first half of the fiscal year 2026, showcasing revenue growth amid challenges.

Financial Performance

The company reported consolidated revenue of ₹92.64 crore for H1 FY26, marking a 10.32% year-over-year increase. However, EBITDA declined to ₹7.85 crore from ₹17.29 crore in the same period last year. The financial highlights for H1 FY26 are as follows:

Key Business Highlights

Exceptional Gains

Dev Information Technology reported exceptional gains of ₹93.55 crore from its subsidiary DevX's public listing.

Strategic Focus

• The company is investing in AI, blockchain, and cybersecurity to build proprietary IPs and scalable platforms.
• Dev IT is expanding its presence in India's e-governance market.

Market Challenges

The company noted geopolitical uncertainties in North American markets, which may impact its operations in that region.

Management Commentary

While specific management quotes were not provided, the company's focus on technology-led expansion and investment in emerging technologies remains evident.

Dev Information Technology Limited continues to navigate a complex market environment, balancing growth opportunities in the Indian market with challenges in international operations. The company's strategic investments and focus on key technological areas aim to position it for long-term value creation despite current margin pressures.

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.