The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Amisha Jayminbhai Shah & Pratibhaben Mhanlal Desai
DEVIT · price
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Two promoter group members of Dev Information Technology Ltd sold a combined 74,12,500 shares (13.16% of total share capital) in the open market on December 31, 2025. Amisha Jayminbhai Shah reduced her stake from 13.82% (77,87,600 shares) to 5.83% (32,87,600 shares), selling 45,00,000 shares. Pratibhaben Mhanlal Desai exited completely, selling her entire holding of 29,12,500 shares (5.17%), bringing her stake to zero. Combined promoter group holding fell sharply from 18.99% to 5.83% of the company's equity. The company's total share capital remains unchanged at 11,26,70,464 equity shares of Rs. 2 each. The disclosure was filed under SEBI's Substantial Acquisition of Shares & Takeovers Regulations.
This is a significant promoter group exit, with the combined promoter stake dropping by nearly two-thirds (from ~19% to under 6%). Retail investors should view this as a negative signal, as large open-market selling by promoters often pressures stock price in the short term and may raise concerns about insider confidence in near-term prospects.