Dev Information Technology to raise ₹681.75 crore via warrants

During its October 18 board meeting, Dev Information Technology approved raising about ₹681.75 crore through issuing warrants to Aeroflex Enterprises. The capital-raising is part of the firm’s strategic funding plan for expansion and working-capital objectives. The board meeting commenced at 10:15 AM and concluded at 11:05 AM IST. Investors will watch how the conversion terms and timeline are structured, as these will impact share dilution and future earnings. The firm expects to file a detailed offer document shortly after.