Dev IT Board Approves 29th AGM, Dividend, Director Appointments & Related Party Transactions
Dev Information Technology Limited's Board approved the 29th AGM on September 30, 2026, with a dividend of ₹0.10 per share. Key appointments include Mr. Jayesh Madhusudan Dave and Ms. Bhawika Ogra as directors. Material related party transactions up to ₹100 crore were also proposed.
The appointment of new directors and the declaration of a dividend are significant corporate events that can impact investor confidence and company governance. The approval of substantial related party transactions also signifies ongoing business activities.
The announcement details the approval of the AGM, dividend payment, and the appointment of new directors, all of which are positive corporate actions. The approval of related party transactions, while routine, indicates ongoing business operations.
Dev Information Technology Limited announced the outcome of its Board Meeting held on September 3, 2026. The Board approved the Director's Report for the year ended March 31, 2026, and the notice for the 29th Annual General Meeting (AGM), scheduled for September 30, 2026, at 4:00 PM via Video Conferencing (VC) or Other Audio Visual Means (OAVM).
The company has set September 23, 2026, as the cut-off date for e-voting and as the record date for the payment of a final dividend of 5%, amounting to ₹0.10 per share. The remote e-voting facility will be available from September 25, 2026, to September 29, 2026. M/s. Murtuza Mandorwala & Associates has been appointed as the Scrutinizer for the e-voting process.
Furthermore, the Board recommended the appointment of Mr. Jayesh Madhusudan Dave as a Non-Executive, Non-Independent Nominee Director, representing M/s. Xduce Technologies Private Limited, effective from October 1, 2026, subject to shareholder approval. Ms. Bhawika Ogra was also recommended for appointment as an Independent Non-Executive Director for a term of five consecutive years, commencing October 1, 2026, up to October 1, 2031, also subject to shareholder approval.
In addition, the Board proposed to approve material related party transactions for the financial year 2026-27. These include transactions with M/s Dev Info-Tech North America Limited (up to ₹60 crore), M/s Dhyey Consulting Services Private Limited (up to ₹50 crore), M/s Dynamics Stars LLC (up to ₹50 crore), M/s XDuce Corporation (up to ₹100 crore), and M/s Byte Technosys Private Limited (up to ₹60 crore). The Board Meeting concluded at 6:15 PM.
A plain-language summary of a public exchange filing by Dev Information Technology Limited. Read the original for the full detail.