Announcement for disposal of investment in wholly owned subsidiary
DEVIT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Dev Information Technology Limited's Board has approved the sale of 25% equity stake in its wholly owned subsidiary Dhyey Consulting Services Private Limited to M/s. Unique Comp, Inc for Rs. 4.6 crores through a Share Purchase Agreement dated May 28, 2026. Post-transaction, Dhyey Consulting will cease to be a wholly owned subsidiary but will remain a subsidiary of the company. The Board also approved the audited financial results for Q4 and FY2026, reporting standalone revenue of Rs. 16,197.93 lakhs and consolidated revenue of Rs. 18,950.06 lakhs for the year. A final dividend of Rs. 0.10 per share (5%) has been recommended for shareholder approval at the AGM.
The partial sale of the subsidiary stake at Rs. 4.6 crores represents a moderate cash inflow while maintaining majority control. Shareholders may view this as a positive move to monetize part of the subsidiary investment while retaining strategic influence.