Issuance of Non Convertible Debentures on Private Placement basis
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Dev Accelerator Ltd's board approved issuance of up to 100,000 Senior, Secured, Rated, Listed, Redeemable, Taxable, Transferable Non-Convertible Debentures (NCDs) with face value of Rs. 10,000 each, aggregating up to Rs. 100 Crores. The NCDs will be issued on a private placement basis to eligible investors permitted under applicable laws. The company also reported strong FY26 financial results with consolidated revenue of Rs. 2,354.9 Crores (up 48% YoY) and consolidated profit before tax of Rs. 157.1 Crores (up 480% YoY). EPS improved significantly to Rs. 1.11 from Rs. 0.27 in the previous year. The company had completed its IPO in September 2025 at Rs. 61 per share, raising Rs. 127.38 Crores.
The NCD issuance of Rs. 100 Crores will help the company raise debt capital from private investors. Combined with strong profitability growth, this issuance could support the company's co-working space expansion plans. However, since these are non-convertible debentures, there will be no dilution of equity.