AI assistant
DEV INFORMATION TECHNOLOGY LIMITED — Capital/Financing Update 2023
Dec 15, 2023
59295_rns_2023-12-15_73e4d9ea-c811-4784-8c9e-56850bc3af7b.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
Date: December 15, 2023
To,
National Stock Exchange of India Limited Exchange Plaza, 5[th] Floor, Plot No: C/1, G Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051. Scrip Symbol: DEVIT
BSE Limited
Phiroze Jejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 543462
Dear Sir/Madam,
Sub: Outcome of the meeting of the Board of Directors of Dev Information Technology Limited (“Company”) held on Friday, December 15, 2023
Ref. Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”)
Further to our letter dated Tuesday, December 12, 2023 and in accordance with provisions of Regulation 30 read with Schedule III of the SEBI LODR Regulations, we would like to inform you that the Board of Directors of the Company at its meeting held today i.e., Friday, December 15, 2023, has inter-alia considered and approved the following matters:
1. Execution of the Share Purchase Agreement (“SPA") and Acquisition:
Considered and approved to acquire 100% stake of Dhyey Consulting Services Private Limited. For the purpose of same the board of directors have considered and approved execution of Share Purchase Agreement (“SPA") amongst Dev Information Technology Limited (“Company), Promoters of M/s, Dhyey Consulting Services Private Limited (“Sellers”) and Dhyey Consulting Services Private Limited (“the Company”).
Dhyey Consulting, is renowned for its expertise in Microsoft Dynamics 365, CRM, AI, and Power Platform brings a proven track record with over 300 successful implementations, especially in critical sectors like retail and manufacturing in India and overseas. Their deep industry expertise and status as a premier Microsoft Gold partner significantly boost DEV IT's existing portfolio of Enterprise Applications around the Microsoft D365, Power platform and boost AI practice.
The information in connection with the SPA, pursuant to Regulation 30 of the SEBI LODR Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, is enclosed as Annexure A .
==> picture [611 x 13] intentionally omitted <==
Cloud Services
Managed IT Digital Enterprise Business Mobile | Services | Transformation | Applications | Applications | 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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
The details as required under Regulation 30 of the Listing Regulations read with SEBI Master Circular No.SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 read with SEBI Circular No. SEBI/HO/CFD/CFD-1/P/CIR/2023/123 dated July 13, 2023 are enclosed herewith as Annexure ‐ B .
- Issuance and allotment of equity shares by way of preferential issue on private placement basis (“Preferential Issue”):
Subject to the approval of shareholders of the Company and in accordance with SPA and such other regulatory/governmental authorities as may be required, the Board has approved to create, offer, issue and allot by way of a preferential issue of 2,96,296, (Two Lakhs Ninety Six Thousand Two hundred Ninety Six) equity shares, at an issue price of ₹135 (Rupees One Hundred Thirty-Five Only) per equity share of the face value of ₹5/- (Rupees Five only) each at an issue price as determined in accordance with the provisions of Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as aggregating to ₹4,00,00,000/- (Rupees Four Crore Only), for Consideration other than Cash, to Mr. Nilesh Dilipkumar Mandani, Mr. Nileshkumar Jagdishbhai Panchal and Mr. Sahil Baldevbhai Amin (directors of M/s. Dhyey Consulting Services Private Limited) (hereinafter referred to as “Proposed Allottee”) on a private placement basis on such terms and condition as may be determined by the Board.
The information in connection with the issuance of securities pursuant to Regulation 30 of the SEBI LODR Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, is enclosed as Annexure C .
-
The Board has fixed the Relevant Date, in terms of provisions of the SEBI ICDR Regulations for determining the floor price for the preferential issue i.e., Tuesday December 12, 2023.
-
The Board has approved the notice of the Extra Ordinary General Meeting for the approval of the shareholders.
-
The Board has fixed Friday, December 15, 2023, as the Cut-Off date for the purpose of the dispatch of notice of Extra Ordinary General Meeting electronically, along with the details of e-voting to the Members.
-
The Board has appointed M/s. Murtuza Mandorwala & Associates as Scrutinizer to conduct the voting process in a fair and transparent manner.
Managed IT Digital Enterprise Business | Services | Transformation | Applications | Applications |
==> picture [611 x 13] intentionally omitted <==
Cloud Services
Mobile 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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
- Considered and approved re-classification of following members from ‘public’ category to ‘Promoter & Promoter group’:
| Name of shareholder | No. of Shares held | Reason of re-classification |
|---|---|---|
| LT-1 Inc | 8,48,030 | Pursuant to initial announcement dated June 16, 2023 and shareholders approval, the acquirer has completed the ‘Open Offer’ Process and the same is now being approved by the board for re-classification from ‘‘public’ category to ‘Promoter & Promoter group’ |
| Divit Vasu | 20,000 | By virtue of relative of Director in accordance with the definition of relative under Companies Act |
| Diya Vishal Vasu | 27,000 | By virtue of relative of Director in accordance with the definition of relative under Companies Act |
| Shrimay Prerak Shah | 10,000 | By virtue of relative of Director in accordance with the definition of relative under Companies Act |
The meeting of the Board of Directors of the Company commenced at 5:30 p.m. and concluded at 07:35 p.m.
The Notice of Extra Ordinary General Meeting and other relevant documents shall be submitted in due course.
The Disclosures along with the enclosures shall be made available on the Company's website of the company at www.devitpl.com.
==> picture [611 x 13] intentionally omitted <==
Cloud Managed IT Digital Enterprise Business Mobile Services | Services | Transformation | Applications | Applications | 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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
Kindly take the same on record of your esteemed Exchange and disseminate it on your website.
Thanking you,
Yours faithfully,
For Dev Information Technology Limited
Digitally signed by KRISA KAIRAV SHAH DN: c=IN, o=Personal, title=2582, pseudonym=CDCD7FC7D81194322A5D754479A99121, KRISA KAIRAV 2.5.4.20=85084771729dcbf53eeb59ca8816c302300d84 40cb27e3444c7c94d4181b4266, postalCode=380007, st=Gujarat, serialNumber=0D148FB642AD1A5177D6AC789F641CE SHAH 2A46A0172B9661A7716658794938A1AF0, cn=KRISA KAIRAV SHAH Date: 2023.12.15 19:37:55 +05'30'
Krisa Shah Company Secretary & Compliance Officer
Encl.: As above.
|
Digital | Transformation
|
|
|
==> picture [611 x 13] intentionally omitted <==
Cloud Services
Mobile Applications
Managed IT Services
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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
Annexure A
DISCLOSURE PURSUANT TO PARAGRAPH 2 OF PART A, SCHEDULE III OF THE SEBI LODR REGULATIONS READ WITH THE SEBI CIRCULAR CIR/CFD/CMD/4/2015 DATED SEPTEMBER 9, 2015.
| Sr. No. |
Particulars | Details |
|---|---|---|
| 1 | Name(s) of parties with whom the agreement is entered. |
The parties to the share purchase agreement(“SPA”)are as follows: (i) Dev Information Technology Limited(“the Purchaser”); (ii) (“Sellers”) a) Mr. Nilesh Mandani b) Nilesh Panchal c) Sahil Amin (iii) Dhyey Consulting Services Private Limited (the Company) (together referred to as“Parties”) |
| 2 | Purpose of entering into the agreement. |
The SPA has been entered into by the Parties for recording the terms and conditions pursuant to the following transactions: (i) The Purchaser is desirous of acquiring the 100% (Hundred Percent) Equity Shares of the Company from the Sellers in the manner and on the terms and conditions set out in the SPA, (ii) INR 9,00,00,000 (Indian Rupees Nine Crores) split into INR 5,00,00,000 (Indian Rupees Five Crores ) to be paid by way of bank transfer and balance amount payable by way of issuance of such number of equity shares of the Purchaser namely Dev Information Technology Limited, Listed Entity on a preferential basis for the balance amount of INR 4,00,00,000 (Indian Rupees Seven Crores) in accordance with and in compliance with the LODR Regulations, ICDR Regulations and the Applicable Laws payable on the Closing Date (iii) the Company will issue 2,96,296, (Two Lakhs Ninety Six Thousand Two hundred Ninety Six) fully paid-up equity shares (hereinafter referred to as “Equity Shares”) at an issueprice of ₹135/-(Rupees One Hundred Thirty-Five |
==> picture [611 x 13] intentionally omitted <==
Cloud Services
Managed IT Digital | Services | Transformation
Enterprise Business Mobile | Applications | Applications | 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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
| Only) per Equity Share which includes a premium of ₹130/- (Rupees One Hundred Thirty Only) per Equity Share as provided in the SPA to Dhyey Consulting Services Private Limited by way of a Preferential Allotment for Consideration other than Cash in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)Regulations,2018. |
||
|---|---|---|
| 3 | Shareholding, if any, in the entity with whom the agreement is executed. |
Nil |
| 4 | Significant terms of the agreement (in brief) special rights like right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure etc. |
Pursuant to SPA, the Purchaser company shall have the right to nominate majority of the Directors on the Board (“Purchaser Nominee Directors”). In the event the Company is required under Applicable Law to appoint independent director(s), the Board composition shall be modified for appointment of such independent director(s) and the Board shall identify such directors. Such independent directors shall be appointed on the Board in accordance with Applicable Law by the Purchaser. The directors shall not be required to hold any qualification shares. |
| 5 | Whether, the said parties are related to promoter/promoter group/ group companies in any manner. If yes, nature of relationship |
The sellers and Purchaser company neither the directors of both the companies are not related to the promoter/ promoter group/ group companies in any manner. Pursuant to the acquisition of equity shares of the Company to Mr. Nilesh Mandani, Mr. Nilesh Panchal and Mr. Sahil Amin being the Sellers in terms of the SPA, they will be categorized as ‘Public’ only. |
| 6 | Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length”? |
This transaction is not a related party transactions. |
| 7 | In case of issuance of shares to the parties, details of issue price, class of shares issued. |
Issuance of 2,96,296, (Two Lakhs Ninety Six Thousand Two hundred Ninety Six) fully paid-up equity shares (hereinafter referred to as “Equity Shares”) at an issue price of ₹135/- (Rupees One Hundred Thirty-Five Only) per Equity Share which includes a premium of ₹130/- (Rupees One Hundred Thirty Only) per Equity Share, which is price as determined in accordance with the provisions of Chapter V of SEBI (ICDR) Regulations, aggregating to ₹4,00,00,000/- (Rupees Four Crore Only),for Consideration other than Cash,to Mr. Nilesh |
Managed IT Digital Enterprise Business Mobile | Services | Transformation | Applications | Applications | Applications
==> picture [611 x 13] intentionally omitted <==
Cloud Services
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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
| Dilipkumar Mandani, Mr. Nileshkumar Jagdishbhai Panchal And Mr. Sahil Baldevbhai Amin (directors of M/s. Dhyey Consulting Services Private Limited) (hereinafter referred to as “Proposed Allottee”) as more particularly set out in the explanatory statement, in accordance with the SEBI (ICDR) Regulations and other applicable laws and on such terms and conditions as set out in SPA dated December 15,2023. |
||
|---|---|---|
| 8 | Any other disclosures related to such agreements, viz., details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such agreements,etc. |
Not Applicable |
| 9 | In case of termination or amendment of agreement, listed entity shall disclose additional details to the stock exchange(s): (a) name of parties to the agreement (b) nature of the agreement (c) date of execution of the agreement (d) details of amendment and impact thereof or reasons of termination and impact thereof. |
Not Applicable |
Thanking You,
For Dev Information Technology Limited
Digitally signed by KRISA KAIRAV SHAH DN: c=IN, o=Personal, title=2582, pseudonym=CDCD7FC7D81194322A5D754479A99121, KRISA KAIRAV 2.5.4.20=85084771729dcbf53eeb59ca8816c302300d8440c b27e3444c7c94d4181b4266, postalCode=380007, st=Gujarat, serialNumber=0D148FB642AD1A5177D6AC789F641CE2A4 SHAH 6A0172B9661A7716658794938A1AF0, cn=KRISA KAIRAV SHAH Date: 2023.12.15 19:38:17 +05'30' Krisa Shah Company Secretary & Compliance Officer
Managed IT Digital Enterprise Business Mobile | Services | Transformation | Applications | Applications | Applications
==> picture [611 x 13] intentionally omitted <==
Cloud Services
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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
Annexure-B
| Sr. No. |
Details of Events need to be provided | Information of such Events | |
|---|---|---|---|
| 1 | Name of the target entity, details in brief such as size, turnover, etc. |
Dhyey Consulting Services Private Limited (“Dhyey”), incorporated on April 07, 2010. Paid up Share Capital:Rs. 10,000/- consisting of 1,000 Equity Shares of Rs. 10/- each. Turnover:Rs. 15.94 Cr. as on March 31, 2023 |
|
| 2 | Whether the acquisition / investment would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the |
The transaction would not fall within related party transaction. The Promoters/ Promoter group/ group companies do not have any interest. |
|
| 3 | Industry to which the entity beingacquired/invested belongs |
Information Technology | |
| 4 | Objects and effects of acquisition/investment (including but not limited to, disclosure of reasons for acquisition/investment of target entity, if its business is outside the main line of business of the listed entity) |
The purpose of these acquisition represents a pivotal advancement in DEV IT's mission to offer comprehensive and innovative ERP and CRM solutions. This acquisition will help DEV IT to expand the business line of Microsoft Business Enterprise and to expand its footprints to these technologies in the Domestic as well as Overseas markets. Dhyey is having is domain expertise in Manufacturing, Distribution, Professional Services, EPC Contractors with over 300+ customers expanded in India as well as in United States. |
|
| 5 | Brief details of any governmental or regulatory approvals required for the acquisition/investment |
N.A. | |
| 6 | Indicative time period for completion of the acquisition/investment |
March 2024. (closing Date) |
Cloud Managed IT Digital Enterprise Business Mobile Services | Services | Transformation | Applications | Applications | Applications
==> picture [611 x 13] intentionally omitted <==
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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
| 7 | Nature of consideration – whethercash consideration or share swap and details of the same |
Purchase Consideration” under these SPA will be INR 9,00,00,000 (Indian Rupees Nine Crores) split into INR 5,00,00,000 (Indian Rupees Five Crores ) to be paid by way of bank transfer and balance amount payable by way of issuance of such number of equity shares of the Purchaser namely Dev Information Technology Limited, Listed Entity on a preferential basis for the balance amount of INR 4,00,00,000 (Indian Rupees Seven Crores) in accordance with and in compliance with the LODR Regulations, ICDR Regulations and the Applicable Laws payable on the Closing Date to the sellers viz Mr. Nilesh Dilipkumar Mandani, Mr. Nileshkumar Jagdishbhai Panchal And Mr. Sahil Baldevbhai Amin (directors of M/s. Dhyey Consulting Services Private Limited) (hereinafter referred to as “Proposed Allottee”) . |
Purchase Consideration” under these SPA will be INR 9,00,00,000 (Indian Rupees Nine Crores) split into INR 5,00,00,000 (Indian Rupees Five Crores ) to be paid by way of bank transfer and balance amount payable by way of issuance of such number of equity shares of the Purchaser namely Dev Information Technology Limited, Listed Entity on a preferential basis for the balance amount of INR 4,00,00,000 (Indian Rupees Seven Crores) in accordance with and in compliance with the LODR Regulations, ICDR Regulations and the Applicable Laws payable on the Closing Date to the sellers viz Mr. Nilesh Dilipkumar Mandani, Mr. Nileshkumar Jagdishbhai Panchal And Mr. Sahil Baldevbhai Amin (directors of M/s. Dhyey Consulting Services Private Limited) (hereinafter referred to as “Proposed Allottee”) . |
Purchase Consideration” under these SPA will be INR 9,00,00,000 (Indian Rupees Nine Crores) split into INR 5,00,00,000 (Indian Rupees Five Crores ) to be paid by way of bank transfer and balance amount payable by way of issuance of such number of equity shares of the Purchaser namely Dev Information Technology Limited, Listed Entity on a preferential basis for the balance amount of INR 4,00,00,000 (Indian Rupees Seven Crores) in accordance with and in compliance with the LODR Regulations, ICDR Regulations and the Applicable Laws payable on the Closing Date to the sellers viz Mr. Nilesh Dilipkumar Mandani, Mr. Nileshkumar Jagdishbhai Panchal And Mr. Sahil Baldevbhai Amin (directors of M/s. Dhyey Consulting Services Private Limited) (hereinafter referred to as “Proposed Allottee”) . |
||
|---|---|---|---|---|---|---|
| 8 | Cost of acquisition/investment or the price at which the shares are acquired |
Not exceeding Rs. 09 Crores |
||||
| 9 | Percentage of shareholding / control acquired and / or number of shares acquired |
Not exceeding 3% Stake The Target Company would become an wholly on subsidiaryof DEVIT upon 100% acquisition byMarch |
||||
| 10 | Brief background about the entity acquired/invested in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired/invested entity has presence and any other significant information (in brief) |
~~202~~ Date of Incorporation:April 07, 2010 Line of Business Acquired:IT ConsultingTurnover: |
||||
| Financial Year | Turnover(Rs. in Crore) | |||||
| FY 2020-21 | 7.71 | |||||
| FY 2021-22 | 12.83 | |||||
| FY 2022-23 | 15.94 |
Thanking You,
For 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=85084771729dcbf53eeb59ca8816c302300d8440cb27 e3444c7c94d4181b4266, postalCode=380007, st=Gujarat, serialNumber=0D148FB642AD1A5177D6AC789F641CE2A46A SHAH 0172B9661A7716658794938A1AF0, cn=KRISA KAIRAV SHAH Date: 2023.12.15 19:39:02 +05'30' Krisa Shah Company Secretary & Compliance Officer
Managed IT Digital Enterprise Business Mobile | Services | Transformation | Applications | Applications | Applications
==> picture [611 x 13] intentionally omitted <==
Cloud Services
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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
Annexure-C
DISCLOSURE PURSUANT TO PARAGRAPH 2 OF PART A, SCHEDULE III OF THE SEBI LODR REGULATIONS READ WITH THE SEBI CIRCULAR CIR/CFD/CMD/4/2015 DATED SEPTEMBER 9, 2015.
| Sr. No . |
Particulars | Disclosure | Disclosure | Disclosure | Disclosure | Disclosure | Disclosure |
|---|---|---|---|---|---|---|---|
| 1. | Types of securities proposed to be issued |
Equity Shares of face value of ₹5/- (Rupees Five Only) each | |||||
| 2. | Type of issuance | Preferential issue of equity shares other then Cash consideration in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder and provisions of Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and other applicable laws. |
|||||
| 3. | Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately) |
Issuance of 2,96,296, (Two Lakhs Ninety Six Thousand Two hundred Ninety Six) fully paid-up equity shares (hereinafter referred to as “Equity Shares”) at an issue price of ₹135/- (Rupees One Hundred Thirty-Five Only) per Equity Share which includes a premium of ₹130/- (Rupees One Hundred Thirty Only) per Equity Share, which is price as determined in accordance with the provisions of Chapter V of SEBI (ICDR) Regulations, aggregating to ₹4,00,00,000/- (Rupees Four Crore Only), for Consideration other than Cash, to Mr. Nilesh Dilipkumar Mandani, Mr. Nileshkumar Jagdishbhai Panchal And Mr. Sahil Baldevbhai Amin (directors of M/s. Dhyey Consulting Services Private Limited) (hereinafter referred to as “Proposed Allottee”) as more particularly set out in the explanatory statement, in accordance with the SEBI (ICDR) Regulations and other applicable laws and on such terms and conditions as set out in SPA dated December 15,2023. |
|||||
| 4. | Details to be furnished in case ofpreferential issue | ||||||
| a. Name of the allottee |
Mr. Nilesh Dilipkumar Mandani, Mr. Nileshkumar Jagdishbhai Panchal And Mr. Sahil Baldevbhai Amin (directors of M/s. Dhyey Consulting Services Private Limited) |
||||||
| b. Post allotment of securities outcome of the subscription, |
Outcome of allotment: | Post-issue shareholding Post allotment of equity shares No. %* |
|||||
| Investor | Pre-Issue shareholding | Post-issue shareholding | |||||
| Post allotment of equity shares* |
|||||||
| No. | % | No. | % | ||||
Managed IT Services |
Digital Transformation |
==> picture [611 x 13] intentionally omitted <==
Cloud Services
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]
==> picture [145 x 51] intentionally omitted <==
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
| Sr. No . |
Particulars | ||||||
|---|---|---|---|---|---|---|---|
| Disclosure | |||||||
| issue price /allotted price (in case of convertibles), number of investors |
Mr. Nilesh Dilipkumar Mandani |
Nil | - | 98,765 | 0.44 | ||
| Mr. Nileshkumar Jagdishbhai Panchal |
98,765 | 0.44 | |||||
| Mr. Sahil Baldevbhai Amin |
98,764 | 0.44 | |||||
| In case of convertibles - intimation on conversion of securities or on lapse of the tenure of the instrument |
Not Applicable | ||||||
| 5. | Any cancellation or termination of proposal for issuance of securities Including reasons thereof |
Not Applicable |
Thanking You,
For Dev Information Technology Limited
Digitally signed by KRISA KAIRAV SHAH DN: c=IN, o=Personal, title=2582, pseudonym=CDCD7FC7D81194322A5D754479A99121, 2.5.4.20=85084771729dcbf53eeb59ca8816c302300d8440cb2 7e3444c7c94d4181b4266, postalCode=380007, st=Gujarat, serialNumber=0D148FB642AD1A5177D6AC789F641CE2A46A 0172B9661A7716658794938A1AF0, cn=KRISA KAIRAV SHAH Date: 2023.12.15 19:39:21 +05'30'
KRISA KAIRAV SHAH
Krisa Shah
Company Secretary & Compliance Officer
==> picture [611 x 13] intentionally omitted <==
Cloud Services
Managed IT Digital Enterprise Business Mobile | Services | Transformation | Applications | Applications | Applications