Dc Infotech And Communication Limited has informed the Exchange regarding Board meeting held on Jun 27, 2025.
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The board, at its June 27, 2025 meeting, approved conversion of 9,10,000 (9.10 lakh) convertible warrants into equity shares at Rs. 54 per share, allotted to two promoters — Dharmik Chetankumar Timbadia (5,00,000) and Madhuri Sayani (4,10,000) — upon receipt of full subscription money. The company will also incorporate a wholly-owned subsidiary in the UAE, DCINFOTECH AND COMMUNICATION - FZCO, to carry out IT-related services. The new entity will require a minimum capital of AED 1 lakh and will be 100% held by the company. This marks the company's first overseas expansion step and deepens promoter holding through conversion of warrants originally issued in January 2024. No turnover or financials are yet available for the UAE entity as it is yet to be incorporated.
Existing shareholders will see equity dilution from the warrant conversion, though capital is being brought in by promoters, signaling their confidence. The UAE subsidiary signals international growth plans in IT services, which is a positive long-term move but adds execution and currency risk given the entity is still to be set up.