OUTCOME OF BOARD MEETING DATED 30/04/2025
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Dev Labtech Venture Ltd's board, meeting on April 30, 2025, approved the conversion of 5,60,000 warrants into 5,60,000 equity shares at Rs. 62 per share (including a Rs. 52 premium). The company received Rs. 2.60 crore from warrant holders paying the remaining 75% of the issue price. All 5 allottees belong to the Promoter/Promoter Group, including the CMD, CFO, and their family members/HUF. As a result, the company's paid-up equity capital rose to Rs. 11.86 crore, divided into 1,18,63,139 shares of Rs. 10 each. Promoter/Promoter Group holding increases from 54.55% to 56.69% post-allotment, while public shareholding drops from 45.45% to 43.31%. After this conversion, no warrants remain outstanding. The meeting also covered routine compliance items such as director disclosures, investor grievance review, and policy reviews.
Existing public shareholders will see their stake diluted by about 2.14 percentage points as promoters convert warrants into shares and consolidate ownership to 56.69%. No new cash comes from the market; the Rs. 2.60 crore is the balance payment on warrants already issued in November 2023, so there is limited direct impact on stock price, though the increased promoter holding may be viewed as a sign of promoter confidence.