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DEV INFORMATION TECHNOLOGY LIMITED — Board/Management Information 2024
Dec 21, 2024
59295_rns_2024-12-21_27151421-3fab-4a06-9aed-e4772b78cb4a.pdf
Board/Management Information
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Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53
Dev Information Technology Limited
www.devitpl.com | [email protected]
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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
Date: 21[st] December, 2024
To, To, The Manager-Listing Department, The Secretary, The National Stock Exchange of India BSE Limited Limited, Phiroze Jejeebhoy Towers, Exchange Plaza, Plot No. C/1, G-Block, Dalal Street Bandra Kurla complex, Mumbai -400001 Bandra East, Mumbai-400 051 Trading Symbol: 543462 Trading Symbol: DEVIT
Dear Sir/ Madam,
Subject: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 , and pursuant to Extra-ordinary General Meeting (EGM) held on Friday, 20[th] December, 2024, for seeking approval of the Shareholders, we would like to inform you that shareholders have approved the following, by way of special resolution(s):
- i) Appointment of Mr. Bhavin Sanjaybhai Bhagat (DIN: 06461457) as an Independent NonExecutive director for a term of consecutive period of 5 (five) years commencing from the conclusion of the EGM i.e. with effect from December 20, 2024 to December 20, 2029, who is not liable to retire by rotation.
The brief particulars of above appointments director are as per Annexure – A.
- ii) Sub-division/ split of the existing Equity Shares of the Company, such that each Equity Share having face value of Rs. 5/- (Rupees Five only) each fully paid-up, be sub-divided/split into such number of Equity Shares having face value of Rs. 2/- (Rupees Two only) each fully paidup.
The Record Date for sub-division/split of existing Equity Shares shall be announced by the board in ensuing intimation and as may be decided by the board.
The detailed disclosure as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 and SEBI/HO/CFD/CFD-PoD-l/P/CIR/2023/123 dated July 13, 2023 is enclosed herewith as Annexure B .
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Digital Enterprise Transformation | Applications
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Dev Information Technology Limited
Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53
www.devitpl.com | [email protected]
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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
- iii) Alteration of the Capital Clause (Clause V) of the Memorandum of Association of the Company on account of aforesaid sub-division/split of existing Equity Shares by deletion of existing Capital Clause (V) i.e. "The Authorized Share Capital of the Company is “₹ 20,00,00,000 (Rupees Twenty Crore Only) divided into 4,00,00,000 (Rupees Four Crore Only) equity shares of ₹5 (Rupees Five Only) each " and inserting the new Capital Clause (V) i.e. "The Authorized Share Capital of the Company is ₹ 20,00,00,000 (Rupees Twenty Crore Only) divided into 10,00,00,000 (Rupees Ten Crore Only) equity shares of ₹2 (Rupees Two Only) each.
Brief of alteration in MoA in terms of SEBI Circular attached as Annexure – C
This is for your information and record.
Thanking you,
Yours faithfully,
On behalf of Board of Directors DEV INFORMATION TECHNOLOGY LIMITED
Digitally signed by KRISA KAIRAV SHAH DN: c=IN, o=Personal, title=2582, KRISA KAIRAV pseudonym=CDCD7FC7D81194322A5D754479A99121, 2.5.4.20=85084771729dcbf53eeb59ca8816c302300d8440cb27e3444c7c94 d4181b4266, postalCode=380007, st=Gujarat, serialNumber=0D148FB642AD1A5177D6AC789F641CE2A46A0172B9661A SHAH 7716658794938A1AF0, cn=KRISA KAIRAV SHAH Date: 2024.12.21 12:02:19 +05'30'
Krisa Shah
Company Secretary & Compliance Officer Place: Ahmedabad
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Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53
Dev Information Technology Limited
www.devitpl.com | [email protected]
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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
Annexure – A: Particulars of above appointment of director:
1. Appointment of Mr. Bhavin Sanjaybhai Bhagat (DIN: 06461457) as an Independent
Non-Executive director
| Particulars | Bhavin Sanjaybhai Bhagat | |
|---|---|---|
| DIN No. | 06461457 | |
| Date of Birth | 21/03/1979 | |
| Age of Director | 45years | |
| Term of appointment | Appointment for a term of consecutive period of 5 (five) years commencing from the conclusion of the EGM i.e. with effect from December 20,2024 to December 20,2029 |
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| Qualification | oMaster’s Degree in Business Administration oDiploma in Management Studies oBachelor of Science |
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| Terms and Conditions of Appointed as an Executive Director Appointed as an Independent Director of Appointment |
Appointed as an Non- Executive Independent Director of the company for five years, who is not liable to retire by rotation |
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| Designation | Independent Director | |
| Expertise in specific functional areas |
Bhavin S. Bhagat was born in Ahmedabad, Gujarat, where he developed an early passion for leadership and innovation. His educational journey fueled his entrepreneurial spirit, eventually leading him to a global career in business development. _Entrepreneurial Journey:_Coming from a family with a background in pharmaceuticals, Bhavin began his professional journey in 1999 at one of the initiatives at Ranbaxy’s Ahmedabad. In 2002, he moved to the UK to pursue higher studies in management, later working in business development and strategic roles across the UK and Europe’s pharmaceutical sectors. In 2010, his family explored business exit from a joint venture, an experience that revealed a significant gap in support for Indian companies navigating mergers, acquisitions, and private investments. To address this, Bhavin and his partner Haririya founded IndiaBizForSale.com in 2013-14, an online platform for buying, selling, and funding businesses in India. With over 120,000 investors, SMEs, and deal professionals in its network, IndiaBizForSale.com has become a pivotal tool for Indian businesses. In 2016, Bhavin launched IBGrid, a complete investment banking solution focusingon mergers,acquisitions,and fundraising, |
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Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53
Dev Information Technology Limited
www.devitpl.com | [email protected]
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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
| blending technology and expertise to drive complex business transactions efficiently. His work consistently aims at simplifying and streamlining business processes, creating impactful solutions for the Indian market. _Leadership and Contributions :_Beyond his entrepreneurial ventures, Bhavin is dedicated to ecosystem development. He contributes as jury to multiple incubation centers such as AIC- LMCP, GUSEC, Venture Studio, I-hub and more. His contributions extend to fostering business growth, investments, entrepreneurship, and sustainable solutions within India’s business landscape. Role at TiE Bhavin joined TiE Ahmedabad in 2015 and served as Honorary Secretary from April 2021 to April 2024. In May 2024, he assumed the role of President, where he continues to support and mentor aspiring entrepreneurs in Gujarat. His leadership at TiE exemplifies his commitment to building a thriving entrepreneurial ecosystem. _Personal Interests:_Outside his professional roles, Bhavin enjoys hiking, playing pickleball, and staying engaged with new business models and learning opportunities. He is passionate about networking and contributing to India’s dynamic entrepreneurial landscape. |
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| Relationship between Directors inter-se and with Manager and other KMPs |
He is not related with any Director and Key Managerial Personnel of the Company |
| Names of listed entities including this entity in which the person also holds the directorship |
None |
| Names of listed entities including this entity in which the person also holds the membership of Committees of the board |
None |
| No. of Shares Held | NIL |
| No. of Board Meeting attended during last Financial Year |
NA |
| Remuneration drawn during last Financial Year (sitting Fees Only) |
NA |
Managed IT Digital Enterprise Business | Services | Transformation | Applications | Applications |
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Cloud Services
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Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53
Dev Information Technology Limited
www.devitpl.com | [email protected]
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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
Annexure – B
| SN | Particulars | Details | Details | Details | Details | Details | |
|---|---|---|---|---|---|---|---|
| a) | Split ratio | The sub-division of 1 (one) equity share having face value of Rs. 5/- (Rupees Five only) each fully paid-up into 1 (One) equity shares having face value of Rs. 2/- (Rupees Two only) each fully paid-up, subject to regulatory/statutory approvals as may be required. |
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| b) | Rationale behind the split |
A company engages in stock split decision to make its stock more affordable if its price levels are high for retail investors, which will lead to increase in liquidity in the capital market, to widen shareholder base and to encourage participation of small investors by making equity shares of the Company more attractive to invest. Stock split decreases the market price of the individual shares, however, does not result in changing the market capitalization of the company. |
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| c) | Pre and post share capital and number of shares of each class – authorized, paid- up and subscribed |
SHARE CAPITAL |
PRE –SPLIT | POST-SPLIT | |||
| No. of shares |
Amount (Rs.) |
No. of shares |
Amount (Rs.) |
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| AUTHORIZED | 4,00,00,000 Ordinary Shares of ₹5 each |
20,00,00,000 | 10,00,00,000 Ordinary Shares of ₹2 each |
20,00,00,000 |
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| PAID-UP & SUBSCRIBE D |
2,24,84,679 fully paid-up Ordinary Shares of ₹5 each |
11,24,23,395 |
5,62,11,697.5 fully paid-up Ordinary Shares of ₹2 each |
11,24,23,395 | |||
| * The existing Authorized equity, Issued, Subscribed and Paid-up equity share capital as on the date of notice is been mentioned above. The Authorized equity, Issued, Subscribed and Paid-up equity share capital existing as on the Record Date shall stand sub-divided/split. |
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| d) | Expected time of completion |
Within 3 months from the date of shareholder’s approval |
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Cloud Services
Managed IT Digital Services | Transformation |
Mobile Applications
Enterprise Applications |
Business Applications |
Dev Information Technology Limited
Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53
www.devitpl.com | [email protected]
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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
| e) | Class of shares which are subdivided |
Equity shares (There is only one class of Equity shares) |
|---|---|---|
| f) | Number of shareholders who did not get any shares in consolidation and their pre- consolidation |
Not Applicable |
| g) | Number of shares of each class pre and post split |
As per above point c) & e) |
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Cloud Services
Digital Transformation
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Enterprise Applications
Business Applications |
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Dev Information Technology Limited
Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad - 380 059. (INDIA) Phone: +91 94298 99852 / 53
www.devitpl.com | [email protected]
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Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
Annexure C
Amendments to Memorandum of Association of the Company, in brief:
The shareholders in its meeting held on December 20, 20224, have approved alteration of Capital Clause (Clause V) of the Memorandum of Association of the Company as below:
Clause V: “The Authorized Share Capital of the Company is ₹ 20,00,00,000 (Rupees Twenty Crore Only) divided into 10,00,00,000 (Rupees Ten Crore Only) equity shares of ₹2 (Rupees Two Only) each".
This is for your information and record.
Thanking you,
Yours faithfully,
On behalf of Board of Directors DEV INFORMATION TECHNOLOGY LIMITED
Digitally signed by KRISA KAIRAV SHAH DN: c=IN, o=Personal, title=2582, pseudonym=CDCD7FC7D81194322A5D754479A99121, 2.5.4.20=85084771729dcbf53eeb59ca8816c302300d84 40cb27e3444c7c94d4181b4266, postalCode=380007, st=Gujarat, serialNumber=0D148FB642AD1A5177D6AC789F641CE 2A46A0172B9661A7716658794938A1AF0, cn=KRISA KAIRAV SHAH Date: 2024.12.21 12:02:41 +05'30'
KRISA KAIRAV SHAH
Krisa Shah Company Secretary & Compliance Officer Place: Ahmedabad
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Cloud Services
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