Dev Information Technology Promoters Reduce Stake to 11.02% Through Open Market Sale
Dev Information Technology Limited's promoter group executed a significant divestment by selling 50.88 lakh shares through open market operations, reducing their collective stake from 20.06% to 11.02%. The transaction involved three promoter group members with Jaimin Jagdishbhai Shah disposing the largest quantum while Pranav Niranjan Pandya executed the most substantial proportional reduction.
*this image is generated using AI for illustrative purposes only.
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.
| Transaction Parameter: | Details |
|---|---|
| Transaction Date: | March 2, 2026 |
| Mode of Disposal: | Open market sale |
| Total Shares Sold: | 50.88 lakh shares |
| Seller Category: | Promoter group members |
| Stock Exchanges: | NSE (DEVIT), BSE (543462) |
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.
| Promoter Details: | Before Transaction | Shares Sold | After Transaction |
|---|---|---|---|
| Jaimin Jagdishbhai Shah: | 61.69 lakh (10.95%) | 29.64 lakh (5.26%) | 32.05 lakh (5.69%) |
| Kruti Pranav Panday: | 33.75 lakh (5.99%) | 6.24 lakh (1.11%) | 27.51 lakh (4.88%) |
| Pranav Niranjan Pandya: | 17.55 lakh (3.12%) | 15.00 lakh (2.66%) | 2.55 lakh (0.45%) |
| Total Promoter Group: | 112.99 lakh (20.06%) | 50.88 lakh (9.03%) | 62.11 lakh (11.02%) |
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.
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