Dev Accelerator Limited has informed the Exchange regarding Outcome of Board Meeting held on March 24, 2026.
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On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 0.1 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Dev Accelerator's board, at its meeting on March 24, 2026, approved two preferential allotments at Rs. 45 per share. First, up to 33,33,330 convertible warrants (aggregating ~Rs. 15 crore) will be issued to three promoters — Shah Parth Naimeshbhai, Uttamchandani Umesh Satishkumar, and Rushit Shardulkumar Shah — with an 18-month exercise window. Second, up to 44,44,440 fully paid-up equity shares (aggregating ~Rs. 20 crore) will be issued to Infibeam Projects Management Private Limited, a non-promoter entity, which will hold about 4.70% post-allotment. The total preferential fundraising size is roughly Rs. 35 crore. A postal ballot notice will be sent to shareholders for approval, with M/s. Murtuza Mandorwala & Associates appointed as scrutinizer.
The preferential allotments are dilutive for existing shareholders, but the fact that promoters themselves are putting in ~Rs. 15 crore signals confidence in the business. Approval via postal ballot and the entry of Infibeam Projects as a non-promoter shareholder at Rs. 45 will set a near-term reference price for the stock; short-term price action may be sensitive to this Rs. 45 level.