Board Approves 17.81 Crore Preferential Issue of Convertible Warrants

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AI summary

Dev Labtech Venture board approved issuing up to 1.37 crore convertible warrants at Rs 13 each on preferential basis, raising up to Rs 17.81 crore. Warrants have face value of Rs 5 and premium of Rs 8, convertible within 18 months. Allotment to 7 investors, including 4 from promoter group and 3 non-promoters. Authorized share capital will rise from Rs 25 crore to Rs 31 crore. Post-issue promoter holding will be 61.64 percent. EGM on 5 November 2026.

Likely market impact

Dilution risk as 1.37 crore new warrants may convert into equity. Promoter confidence shown by their large participation in the issue.