Dev Accelerator Limited has informed the Exchange regarding Notice of Postal Ballot
DEVX · price
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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 Limited has sought shareholder approval via postal ballot (e-voting from March 25 to April 23, 2026) for two preferential allotments totalling about Rs. 35 crore. The first is the issuance of up to 33,33,330 convertible warrants at Rs. 45 each (aggregating ~Rs. 15 crore) to three promoters - Shah Parth Naimeshbhai, Uttamchandani Umesh Satishkumar, and Rushit Shardulkumar Shah (11,11,110 warrants each), with 25% payable upfront and the rest on conversion within 18 months. The second is the issuance of up to 44,44,440 equity shares at Rs. 45 each (face value Rs. 2, premium Rs. 43), aggregating ~Rs. 20 crore, to Infibeam Projects Management Private Limited, a non-promoter entity. The pricing follows SEBI ICDR Regulations and is supported by a valuation report from a registered valuer dated March 23, 2026. There is no change in control of the company as a result of these allotments.
This is a capital-raising move that will dilute existing shareholders and increase the promoter's stake (warrants route) while bringing in a new non-promoter investor, Infibeam Projects Management. For shareholders, the stock may see short-term dilution pressure, but promoter participation signals confidence in the business. Shareholders should vote in the postal ballot by April 23, 2026.