Dev Accelerator Allots ₹15 Cr Warrants & ₹20 Cr Equity, Appoints Auditors
Dev Accelerator Limited approved the allotment of 33,33,330 convertible warrants aggregating ₹14.99 crore and 44,44,440 equity shares aggregating ₹19.99 crore. The company also appointed Grant Thornton Bharat LLP as Internal Auditor and M/s. Murtuza Mandorwala & Associates as Secretarial Auditor.
The allotment of warrants and equity shares represents significant fundraising for the company, which will impact its capital structure and future growth. The appointment of auditors is also a material development.
The company has successfully raised capital through the allotment of warrants and equity shares, and has appointed auditors, indicating positive corporate actions.
Dev Accelerator Limited's Board of Directors met on June 16, 2026, to approve the allotment of 33,33,330 convertible warrants at ₹45 each to promoters Mr. Shah Parth Naimeshbhai, Mr. Uttamchandani Umesh Satishkumar, and Mr. Rushit Shardulkumar Shah, aggregating ₹14.99 crore. The company has received 25% of this amount, with the balance payable within 18 months of the allotment date.
Additionally, the Board approved the allotment of 44,44,440 equity shares at ₹45 each to Infibeam Projects Management Private Limited, a non-promoter entity, for an aggregate amount of ₹19.99 crore. These shares will rank pari passu with existing equity shares, increasing the company's paid-up equity share capital.
The company also appointed Grant Thornton Bharat LLP as the Internal Auditor for the financial year 2026-2027 and M/s. Murtuza Mandorwala & Associates as the Secretarial Auditor for a five-year term commencing April 1, 2026, subject to shareholder approval at the ensuing Annual General Meeting.
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Dev Accelerator Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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