The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for XDuce Technologies Pvt Ltd, Jaimin Jagdishbhai Shah & PACs
DEVIT · price
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Awaiting price reaction for this filing.
On 2 March 2026, three members of the promoter group of Dev Information Technology sold a combined 50,88,000 shares (9.03% of share capital) in the open market. Jaimin Shah sold 5.26% (going from 10.95% to 5.69%), Kruti Panday sold 1.11% (from 5.99% to 4.88%), and Pranav Pandya sold 2.66% (from 3.12% to 0.45%). Promoter group holding fell from 20.06% to 11.02% as a result. Separately, non-promoter acquirer XDuce Technologies Pvt Ltd bought 70,31,399 shares (12.48%), raising its stake from 9.10% to 21.58% of the company. The acquirer is not part of the promoter group and crossed the 20% substantial-acquisition threshold in this single transaction.
Shareholding has shifted notably from dispersed promoters to a single non-promoter entity, which is now closing in on the 25% open-offer trigger. This could weigh on the stock in the near term due to supply overhang from further promoter selling and uncertainty over whether an open offer will be triggered.