XDuce Technologies Private Limited has significantly increased its stake in dev information technology through a substantial open market acquisition, as disclosed in a regulatory filing dated March 5, 2026. The acquisition demonstrates strategic investment confidence in the target company's growth potential.

Transaction Details

The acquisition involved a substantial purchase of equity shares through open market operations. XDuce Technologies acquired the shares on March 2, 2026, following standard market procedures for substantial shareholding increases.

Shareholding Changes

The transaction resulted in a significant increase in XDuce Technologies' ownership stake in Dev Information Technology. The company's shareholding position changed substantially following this acquisition.

Company Information

Dev Information Technology Limited maintains its equity structure with a total share capital of 11.27 crore equity shares of Rs. 2 each. The company's shares are actively traded on both major Indian stock exchanges, providing liquidity for such substantial transactions.

XDuce Technologies Private Limited, incorporated in Gujarat with CIN U72900GJ2008PTC055344, operates from Ahmedabad and has been expanding its investment portfolio through strategic acquisitions. The company is not part of Dev Information Technology's promoter group, making this acquisition a strategic investment decision.

Regulatory Compliance

The disclosure was made in compliance with 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 transaction. XDuce Technologies has fulfilled all regulatory requirements for substantial shareholding disclosure, ensuring transparency in the acquisition process.

Dev Information Technology Limited announced its unaudited financial results for Q3 and nine months ended December 31, 2025, demonstrating strong nine-month performance despite quarterly challenges. The IT services company reported significant growth in nine-month consolidated revenue and profitability while strengthening its market position through strategic initiatives.

Nine-Month Consolidated Performance

The company delivered robust nine-month consolidated results with total revenue reaching ₹137.50 crores compared to ₹132.13 crores in the previous year, representing a growth of 4.07%. Net profit surged dramatically to ₹66.64 crores from ₹13.65 crores in 9M FY25, marking an impressive increase of 388.37%.

Quarterly Standalone Results

For Q3FY26, the standalone results showed revenue from operations of ₹36.03 crores compared to ₹42.45 crores in Q3FY25. The quarter recorded a net loss of ₹6.47 crores against a profit of ₹2.09 crores in the corresponding quarter of the previous year.

Strategic Business Developments

The company achieved significant operational milestones during the period. Dev Information Technology was appraised at CMMI Maturity Level 5 for Development, reflecting the highest level of process maturity and delivery excellence. Additionally, the company formed a strategic alliance with XDuce to accelerate North America growth and expand capabilities across AI, cloud, blockchain, cybersecurity, and data services.

Corporate Actions and Acquisitions

The board approved the acquisition of 19,000 equity shares in Scaleax Advisory Private Limited at ₹10 per share, totaling ₹1,90,000. This acquisition provides the company with a 19% shareholding in Scaleax, which specializes in management consultancy, corporate finance, and Global Capability Centre advisory services. The board also approved extending the tenure of 35,77,519 preference shares by five years beyond their original maturity date of March 26, 2026.

Management Commentary

Founder & Chairman Mr. Pranav Pandya commented that the quarter reflects purposeful investment and platform strengthening, with focus on building capabilities for long-term growth. He emphasized continued investments across talent, technology, and strategic partnerships to deepen the company's presence in high-growth digital areas and strengthen its operating platform.