India's equity benchmarks opened higher on Monday, led by oil-to-telecom conglomerate Reliance Industries, after it posted a rise in net profit in the September quarter. The Nifty 50 rose 0.75% to 25,899.5, while the BSE Sensex added 0.77% to 84,613.19 as of 9:17 a.m. IST.
Meanwhile, Dev Information Technology Limited share price surged more than 16% as the company plans to raise ₹68.18 crore by issuing 1.5 crore convertible warrants to Aeroflex Enterprises Limited on a preferential basis, aiming to strengthen its financial position and support growth initiatives.
Dev Information Technology Limited has approved the issuance of up to 1.5 crore warrants, each convertible into one equity share, at a price of ₹45.45 per warrant. The warrants carry a face value of ₹2 each. Through this preferential allotment to Aeroflex Enterprises Limited, a non-promoter entity, the company aims to raise ₹68.18 crore. The capital infusion is intended to strengthen the company’s financial foundation and support its next phase of growth.
The capital infusion will enhance working capital, fund expansion initiatives, and accelerate investments in emerging technologies including cloud, AI-based enterprise solutions, Datacenter management and digital transformation services. It will also enable the company to scale its operations globally, form strategic collaborations, and expand its presence across government and private sector projects.
This development marks an important step in the company’s journey toward building a stronger, innovation-led organization ready to capture opportunities in India’s fast-growing digital and IT infrastructure landscape.
To seek shareholder approval for the proposed fund-raising, the Board has scheduled an EGM on Tuesday, November 18, 2025, to be held via video conferencing or other audio-visual means.
Dev Information Technology Limited reported its Q1 FY26 results with net sales of ₹429.85 crore, up from ₹354.60 crore in Q1 FY25, marking a 21.2% increase. EBITDA for the quarter stood at ₹40.30 crore, down from ₹60.59 crore in the same period last year, a 33.5% decline. Net profit declined to ₹21.82 crore from ₹37.18 crore in Q1 FY25, reflecting a 41.3% decrease.
On Monday, Dev Information Technology share price jumped over 16% to hit an intraday high of ₹44.44 per share. As of 9:47 am the stock price was trading at ₹43.61 per share, up by 14.46%. The stock is trading 16.59% up from its 52-week low of ₹37.5 per share.
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