Announced Tue, 16 Jun · 13:34 IST
Board approves warrant & equity allotment worth ~Rs 35 cr to promoters, Infibeam entity
Fund Raising View source PDF
DEVX · price
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Price reaction · full curve 14 horizons · vs prior close
-0.2%1-day move
₹36.37
prior close
₹36.21
base price
In-mkt
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+0.8+1.0+1.2+0.8-0.2-0.5-1.2-0.1-0.8-2.1-5.3-5.7——
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AI summary
Dev Accelerator's board allotted 33,33,330 convertible warrants to 3 promoters at Rs 45 each (~Rs 15 cr) and 44,44,440 equity shares to Infibeam Projects Management at Rs 45 each (~Rs 20 cr) via preferential issue. Promoters paid 25% upfront, balance within 18 months. Paid-up capital rose to Rs 18.92 cr (9.46 cr shares). Also appointed Grant Thornton Bharat LLP as internal auditor and Murtuza Mandorwala & Associates as secretarial auditor for 5 years.
Likely market impact
Preferential allotment to promoters and Infibeam entity dilutes existing shareholders by ~5%. Warrants add future dilution risk if exercised within 18 months.