Dev Information Technology Promoter Group Member Sells 10 Lakh Shares in Open Market

Dev Information Technology has reported a substantial share disposal by a promoter group member through open market transactions. The disclosure, filed under SEBI regulations on March 6, 2026, reveals significant changes in the shareholding pattern of the technology company. Share Disposal Details Pravinaben Pradyumna Shah, identified as an immediate relative of a promoter, executed the share sale on March 5, 2026. The transaction involved the disposal of equity shares carrying voting rights through open market operations. Transaction Parameter: Details Seller: Pravinaben Pradyumna Shah Transaction Date: March 5, 2026 Mode of Sale: Open market Relationship: Immediate relative of promoter Shareholding Changes The share disposal resulted in a notable reduction in the promoter group's stake in the company. The transaction details show the complete breakdown of shareholding before and after the disposal. Shareholding Details: Before Transaction Transaction After Transaction Number of Shares: 1755000 1000000 (sold) 755000 Percentage Holding: 3.11% 1.78% (disposed) 1.34% Regulatory Compliance The disclosure was made in accordance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Mr. Prerak Pradyumna Shah filed the disclosure on behalf of the seller, acting as the representative for the promoter group. The filing confirms that the company's equity share capital structure remains unchanged following the transaction: Total Equity Shares: 11,26,70,464 shares Face Value: ₹2 per share Listing: National Stock Exchange of India Limited and BSE Limited Market Impact The share disposal represents a reduction of 1.77 percentage points in the promoter group's collective holding. The transaction was completed entirely through open market sales, indicating normal market operations without any off-market or preferential arrangements. The company has notified both stock exchanges where its shares are listed, ensuring full transparency and regulatory compliance. Dev Information Technology Limited has announced another substantial share acquisition involving XDuce Technologies Private Limited under SEBI's takeover regulations. Following a previous acquisition in March 2026, XDuce Technologies has further increased its shareholding in the company through additional open market purchases. Latest Transaction Details XDuce Technologies Private Limited acquired an additional 1,000,000 equity shares of Dev Information Technology Limited on March 5, 2026. This latest acquisition represents 1.78% of the company's total share capital, further consolidating XDuce Technologies' position as a significant shareholder. Parameter Details Acquirer XDuce Technologies Private Limited Transaction Date March 5, 2026 Shares Acquired 1,000,000 Acquisition Percentage 1.78% Mode of Acquisition Open market purchase Cumulative Shareholding Changes The recent acquisition has increased XDuce Technologies' total shareholding from 12,156,399 shares (21.58%) to 13,156,399 shares (23.35%). This follows the company's earlier acquisition of 5,125,000 shares in March 2026, demonstrating a continued investment strategy in Dev Information Technology Limited. Metric Before Latest Transaction After Latest Transaction Change Shares Held 12,156,399 13,156,399 +1,000,000 Percentage Holding 21.58% 23.35% +1.78% Previous Transaction Overview In the earlier transaction completed on March 2, 2026, XDuce Technologies had acquired 5,125,000 equity shares (9.10%) from three promoter group members through open market purchases. The sellers included Jaimin Jagdishbhai Shah (2,964,000 shares), Kruti Pranav Panday (624,000 shares), and Pranav Niranjan Pandya (1,500,000 shares). Regulatory Compliance The disclosure was made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Dev Information Technology Limited maintains its total equity share capital at 11,26,70,464 equity shares of Rs. 2 each and is listed on both the National Stock Exchange of India Limited and BSE Limited with trading symbols DEVIT and 543462 respectively. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. 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