Dev Accelerator Allots Warrants Worth ₹15 Cr & Shares Worth ₹20 Cr
Dev Accelerator Limited approved the allotment of 33,33,330 convertible warrants aggregating ₹14.99 Crore to promoters and 44,44,440 equity shares aggregating ₹19.99 Crore to Infibeam Projects Management Private Limited. The company also appointed Grant Thornton Bharat LLP as Internal Auditor for FY27 and Murtuza Mandorwala & Associates as Secretarial Auditor for 5 years.
The fundraising through the issuance of warrants and equity shares will significantly impact the company's capital structure and potentially fund future growth initiatives. The appointment of auditors is routine but essential for compliance.
The company is undertaking significant fundraising through warrants and equity share allotment, which is generally viewed positively as it strengthens the capital base. The appointment of auditors also signifies normal business operations.
Dev Accelerator Limited announced the outcome of its Board Meeting held on June 16, 2026. The board approved the allotment of 33,33,330 convertible warrants, each with a face value of ₹2 and an issue price of ₹45, to promoters Mr. Shah Parth Naimeshbhai, Mr. Uttamchandani Umesh Satishkumar, and Mr. Rushit Shardulkumar Shah. This allotment aggregates up to ₹14,99,99,850 (₹14.99 Crore). The company has received 25% of the aggregate amount, totaling ₹3,74,99,962.50 (₹3.74 Crore), with the balance payable within 18 months from the allotment date of June 16, 2026.
Furthermore, the Board approved the allotment of 44,44,440 fully paid-up equity shares, with a face value of ₹2 and an issue price of ₹45, to Infibeam Projects Management Private Limited, a non-promoter entity. This allotment aggregates up to ₹19,99,99,800 (₹19.99 Crore). These shares will rank pari passu with the existing equity shares.
Following these allotments, the company's issued and paid-up equity share capital has increased from ₹18,03,75,030 to ₹18,92,63,910.
In other significant decisions, the Board approved the appointment of Grant Thornton Bharat LLP as the Internal Auditor for the financial year 2026-2027, based on the recommendation of the Audit Committee.
Additionally, M/s. Murtuza Mandorwala & Associates has been appointed as the Secretarial Auditor for a term of five consecutive years, commencing from April 1, 2026, and ending on March 31, 2031. This appointment is subject to the approval of the shareholders at the upcoming Annual General Meeting.
What to do with a filing like this
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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See the model portfoliosA plain-language summary of a public exchange filing by Dev Accelerator Limited. Read the original for the full detail.