Board approves warrant & equity allotment, appoints internal and secretarial auditors
DEVX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Board on June 16, 2026 approved: (1) Allotment of 33.33 lakh convertible warrants to 3 promoters at Rs. 45 each (~Rs. 15 Cr); 25% received, balance within 18 months. (2) Allotment of 44.44 lakh equity shares to Infibeam Projects Management (non-promoter) at Rs. 45 each (~Rs. 20 Cr). Post-allotment equity base rose from 9.01 Cr to 9.46 Cr shares. Also appointed Grant Thornton Bharat LLP as Internal Auditor for FY26-27 and Murtuza Mandorwala & Associates as Secretarial Auditor for 5 years (2026-2031).
Promoter warrants + new equity of ~Rs 35 Cr will dilute existing shareholders by ~5%. Reputed auditor appointments are routine governance positive.