Dev Information Technology Limited Approves Share Allotment, Investment, and Corporate Guarantee
Dev Information Technology Limited announced several key decisions following a board meeting held on March 27, 2026.The board approved the allotment of 28,482 equity shares with a face value of Rs. 2 each to eligible employees under the 'Dev Information Technology Limited Employee Stock Option Plan - 2018'. This allotment, totaling Rs. 6,97,809, ranks pari passu with existing equity shares. The company's paid-up capital post-issue is now Rs. 11,27,27,428, representing 5,63,63,714 shares.
Additionally, the board approved an investment of Rs. 386,642 for a 28.50% equity stake in M/s Byte Technosys Private Limited. Byte Technosys Private Limited specializes in IT infrastructure management services.
Finally, the board approved a corporate guarantee of up to Rs. 130.75 Lakhs issued by Dev Information Technology Limited for its wholly-owned subsidiary, M/s Dhyey Consulting Services Private Limited, to secure working capital facilities from The Kalupur Commercial Co-op Bank. The board meeting commenced at 4:30 P.M. and concluded at 5:05 P.M.
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