Dev Information Technology Limited has announced another substantial share acquisition involving XDuce Technologies Private Limited under SEBI's takeover regulations. Following a previous acquisition in March 2026, XDuce Technologies has further increased its shareholding in the company through additional open market purchases.

Latest Transaction Details

XDuce Technologies Private Limited acquired an additional 1,000,000 equity shares of Dev Information Technology Limited on March 5, 2026. This latest acquisition represents 1.78% of the company's total share capital, further consolidating XDuce Technologies' position as a significant shareholder.

Cumulative Shareholding Changes

The recent acquisition has increased XDuce Technologies' total shareholding from 12,156,399 shares (21.58%) to 13,156,399 shares (23.35%). This follows the company's earlier acquisition of 5,125,000 shares in March 2026, demonstrating a continued investment strategy in Dev Information Technology Limited.

Previous Transaction Overview

In the earlier transaction completed on March 2, 2026, XDuce Technologies had acquired 5,125,000 equity shares (9.10%) from three promoter group members through open market purchases. The sellers included Jaimin Jagdishbhai Shah (2,964,000 shares), Kruti Pranav Panday (624,000 shares), and Pranav Niranjan Pandya (1,500,000 shares).

Regulatory Compliance

The disclosure was made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Dev Information Technology Limited maintains its total equity share capital at 11,26,70,464 equity shares of Rs. 2 each and is listed on both the National Stock Exchange of India Limited and BSE Limited with trading symbols DEVIT and 543462 respectively.

Dev Information Technology Limited's promoter group has significantly reduced their collective shareholding through a substantial open market disposal, as disclosed in a regulatory filing dated March 5, 2026. The transaction represents a strategic divestment by the company's founding members.

Transaction Overview

The disposal involved three promoter group members selling equity shares through open market operations on March 2, 2026. The transaction was conducted in compliance with standard market procedures for substantial shareholding changes.

Shareholding Changes

The promoter group's collective ownership in Dev Information Technology decreased substantially following this disposal. The transaction involved three key promoter group members with varying disposal quantities.

Individual Promoter Analysis

Jaimin Jagdishbhai Shah, who disposed the largest quantum of shares, reduced his individual holding by 5.26 percentage points while maintaining the highest individual stake at 5.69%. Pranav Niranjan Pandya executed the most significant proportional reduction, disposing 85.46% of his holdings to retain only 0.45% ownership.

Company Structure

Dev Information Technology Limited maintains its equity structure with a total share capital of 11.27 crore equity shares of Rs. 2.00 each. The company's shares continue to be actively traded on both NSE and BSE, providing adequate liquidity for such substantial transactions.

Regulatory Compliance

The disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms that no encumbrances, voting rights other than equity shares, or convertible securities were involved in this disposal. All regulatory requirements for substantial shareholding disclosure have been fulfilled, ensuring complete transparency in the divestment process.