In a significant development, the promoters of Dev Information Technology Limited have executed a substantial stake sale through open market transactions, reducing their collective shareholding by 13.16% of the company’s total equity capital. The transaction, disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, marks a notable shift in the company’s ownership structure.
The share disposal was completed on December 31, 2025, involving two key promoter group members. According to the transaction details, Amisha Jayminbhai Shah sold 45 lakh shares, reducing her stake from 13.82% to 5.83%. Meanwhile, Pratibhaben Mhanlal Desai completely divested her entire holding of 29.13 lakh shares, bringing her stake to zero. Collectively, the promoters’ holdings have been reduced from 18.99% to 5.83%.
The company’s equity share capital remained unchanged following the transaction. Key details of the capital structure include a total of 11,26,70,464 equity shares with a face value of ₹2.00 each. The shares are listed on the National Stock Exchange (NSE) under the symbol DEVIT and on the Bombay Stock Exchange (BSE) under the code 543462.
The disclosure was filed on January 2, 2026, with both NSE and BSE, signed by Mrs. Amisha Jaimin Shah on behalf of the promoter group. The filing confirms that the transaction involved no encumbrances, voting rights other than equity shares, or convertible securities. All shares sold carried standard voting rights without any special conditions or restrictions.
This open market sale represents a significant change in the company’s ownership structure, with promoter holding dropping from nearly one-fifth to less than 6% of total equity. The transaction was executed entirely through open market mechanisms, ensuring price discovery through regular trading channels. The company’s total diluted share capital remains at 11.27 crore equity shares post-transaction.
The substantial reduction in promoter shareholding marks a notable shift in the company’s ownership pattern, with the remaining promoter stake now concentrated with Amisha Jayminbhai Shah. This development could have broader implications for the company’s strategic direction and governance, as the reduced promoter influence may lead to a more diversified shareholder base and potentially new investor dynamics.
As the market absorbs this significant change, stakeholders will be watching closely to see how this shift impacts the company’s future decisions and performance. The move underscores the importance of regulatory compliance and transparency in significant shareholding changes, ensuring that all transactions are conducted in a manner that protects the interests of all shareholders.