Board approves preferential issue of up to 1,37,00,000 convertible warrants at Rs. 13 each; authorised capital raised

Authorised share capital to rise from Rs. 25,00,00,000 to Rs. 31,00,00,000.

Wed 7 Oct 2026

Warrants approved

up to 1,37,00,000 convertible warrants at Rs. 13/- each

Total consideration

Rs. 17,81,00,000/-

Authorised share capital

rise from Rs. 25,00,00,000 to Rs. 31,00,00,000

Board meeting outcome of 7 October 2026

The board of Dev Labtech Venture Ltd met on Wednesday, 7 October 2026 and approved two main proposals: a larger authorised share capital and a preferential issue of convertible warrants. Both go to shareholders for approval at an extraordinary general meeting (EGM).

Authorised share capital to be increased

• From Rs. 25,00,00,000/- to Rs. 31,00,00,000/-.
• The capital clause of the Memorandum of Association will be altered accordingly.
• The new equity shares will rank pari-passu with the existing equity shares.

Authorised share capital is the ceiling up to which a company can issue shares. Raising it does not by itself bring money into the company or create fresh shares; it creates room for future issuance.

Preferential issue of convertible warrants

• Up to 1,37,00,000 convertible warrants at Rs. 13/- each.
• Each warrant is exercisable into one equity share and may be converted in one or more tranches.
• Total consideration: Rs. 17,81,00,000/-, for cash, on a preferential basis.
• Allottees include promoter/promoter group and non-promoters.
• Tenor: 18 months from the date of allotment.

Who is subscribing

• Donda Jerambhai Lavjibhai, Promoter
• Donda Labhuben Jerambhai, Promoter
• Jaykumar J Donda, Promoter
• Donda Jerambhai Lavjibhai HUF, Promoter Group
• Vanrajsinh Boghubha Sarvaiya, Non-Promoter
• Rajendrasinh Hathisinh Sarvaiya, Non-Promoter
• Sachin Madhusudan Chhatre, Non-Promoter

The update states that post allotment the promoter/promoter group shareholding stands at 61.64% and the non-promoter shareholding at 38.36%.

EGM and voting arrangements

• EGM on Thursday, 5 November 2026 at 01:00 p.m. (IST) through Video Conferencing / Other Audio-Visual Means.
• Cut-off date for e-voting eligibility: Thursday, 29 October 2026.
• Mr. Ricky Kapadia, Proprietor of M/s. RPK & Associates, Practicing Company Secretary, Surat, appointed as Scrutinizer for the EGM voting process.
• National Securities Depository Limited (NSDL) appointed to provide the e-voting platform.

In simple terms

A warrant is not a share yet. It is a right to receive a share later, on payment, within the stated window. So the number of equity shares increases only when warrants are converted. The authorised capital increase does not dilute anyone by itself; it only widens the limit within which shares may be issued. The shareholding figures above are the position stated for the period after allotment.

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