Dev Information Technology Limited's Board of Directors approved the issuance of convertible warrants to raise ₹68.18 crore. The warrants, convertible into equity shares, will be offered to Aeroflex Enterprises Limited on a preferential basis.
The company has decided to raise up to ₹68.18 crore by issuing 1.5 crore convertible warrants, priced at ₹45.45 each. This will involve the issuance of 1.5 crore equity shares of face value ₹2 per share upon conversion. The offer is made to Aeroflex Enterprises Limited, a non-promoter entity, subject to shareholder and regulatory approval.
The preferential allotment is part of the company's broader capital-raising initiative. The Board’s approval allows Dev Information Technology to bolster its financial position, which could enable further growth and investment in its core IT and digital transformation services.
The issuance will require approval from the company’s shareholders at an Extra-Ordinary General Meeting (EGM) scheduled for November 18, 2025. This meeting will be held through video conferencing or other audio-visual means. The company will also seek the necessary regulatory clearances as required by the Securities and Exchange Board of India (SEBI) regulations.
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On October 20, 2025, Dev Information Technology share price opened at ₹40.10 on NSE, above the previous close of ₹38.10. During the day, it surged to ₹44.44 and dipped to ₹40.10. The stock is trading at ₹43.87 as of 9:38 AM. The stock registered a significant gain of 15.14%.
Over the past week, it has moved up by 11.20%, over the past month, it has moved up by 2.03%, and over the past 3 months, it has declined by 2.87%.
Dev Information Technology Limited's recent decision to issue convertible warrants worth ₹68.18 crore is a strategic move aimed at raising capital for its continued growth and digital expansion. The company plans to seek shareholder approval in November 2025, which will pave the way for the issuance of the warrants to Aeroflex Enterprises Limited.
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Published on: Oct 20, 2025, 12:41 PM IST
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