Dev Accelerator Limited has informed the Exchange about the Board of Directors has approved the proposal for divestment of 38% of equity investment in Scaleax Advisory Private Limited, an Associate Company.
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The Board of Directors of Dev Accelerator Limited has approved the proposal to divest 38% of its equity investment in Scaleax Advisory Private Limited, an Associate Company. The company will sell off a significant portion of its holding in this associate entity. Specific details such as the buyer, deal value, and timeline have not been disclosed in this filing. Shareholders will need to watch for further updates on the transaction terms and completion details.
This divestment will reduce Dev Accelerator's exposure to Scaleax Advisory and may free up capital that can be redeployed into its core operations. Depending on the sale price, it could result in a one-time gain or loss for the company, though without disclosed valuation, the stock impact remains uncertain until further details emerge.