Dev Accelerator Limited Approves Preferential Issuance of Warrants and Equity Shares
Ahmedabad – March 24, 2026 – Dev Accelerator Limited (formerly Dev Accelerator Private Limited) announced that its Board of Directors approved the issuance of convertible warrants and equity shares on a preferential basis.The board approved the issuance of up to 33,33,330 warrants, each convertible into one fully paid-up equity share of face value Rs. 2, at a price of Rs. 45 per warrant. This offering is targeted towards Mr. Shah Parth Naimeshbhai, Mr. Uttamchandani Umesh Satishkumar, and Mr. Rushit Shardulkumar Shah, promoters of the company, with a total potential value of Rs. 14,99,99,850. The warrants are exercisable within 18 months from the date of allotment.
Additionally, the board approved the issuance of up to 44,44,440 fully paid-up equity shares of face value Rs. 2 each, at a price of Rs. 45 per share, to Infibeam Projects Management Private Limited, a non-promoter entity. This tranche is valued at Rs. 19,99,99,800. Post-allotment, Infibeam Projects Management Private Limited will hold 4.70% of the company’s equity. On a fully diluted basis, this figure is 4.54%.
The company will conduct a postal ballot to obtain member approval for both the warrant and equity share issuances. Murtuza Mandorwala & Associates has been appointed as the Scrutinizer for the postal ballot voting process.
| Particulars | Details | Details | Details | Details |
|---|---|---|---|---|
| total number of securities proposed to be issued or the total amount for which the securities will be issued (Equity Shares) | upto 44,44,440 (Forty Four Lakh Forty Four Thousand Four Hundred Forty) equity shares | upto 44,44,440 (Forty Four Lakh Forty Four Thousand Four Hundred Forty) equity shares | upto 44,44,440 (Forty Four Lakh Forty Four Thousand Four Hundred Forty) equity shares | upto 44,44,440 (Forty Four Lakh Forty Four Thousand Four Hundred Forty) equity shares |
| post allotment of securities - outcome of the subscription | Name of the Proposed Allottee | Pre-Preferential Holding (No. of Shares&%) | Post-Allotment of Equity Shares pursuant to the Preferential Issue (No. of Shares &%) | Post-Allotment of Equity Shares and convertible warrants pursuant to the Preferential Issue on fully diluted basis (No. of Shares& %) |
| post allotment of securities - outcome of the subscription | Infibeam Projects Management Private Limited | Nil (0.00%) | 44,44,440 (4.70%) | 44,44,440 (4.54%) |
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