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The company intends to utilize the net proceeds from the IPO in a structured manner. About Rs 73.11 crore will be allocated towards capital expenditure for fit-outs in the proposed centers, while Rs 35 crore will be used for repayment or prepayment of specific borrowings. The balance amount will be deployed for general corporate purposes, including strategic initiatives, marketing and brand building, payment of lease liabilities, acquisition of fixed assets, business development, and other corporate requirements.
The issue includes a reservation for Dev Information Technology (Dev IT) shareholders, with upto 329,000 equity shares with a face value Rs 2 each allocated to them. Additionally, up to 164,500 equity shares with a face value of Rs 2 each reserved for the employees of Dev IT.
Dev Information Technology (Dev IT) is in the business of providing IT-enabled services. The company's consolidated net profit fell 40.2% to Rs 2.11 crore on 21.2% rise in revenue from operations to Rs 42.99 crore in Q1 FY26 over Q1 FY25.
The total contract value is approximately Rs 65 lakh, with an execution timeline of around six months.
The company clarified that its promoters, promoter group, and group companies have no interest in the awarding entity. It also confirmed that the transaction does not qualify as a related party transaction under applicable regulatory norms.
Dev Information Technology (DEV IT) is in the business of providing IT-enabled services.
The company's consolidated net profit fell 40.2% to Rs 2.11 crore on 21.2% rise in revenue from operations to Rs 42.99 crore in Q1 FY26 over Q1 FY25.
Dev Information Technology has secured a significant work order from RajCOMP Info Services, a Government of Rajasthan undertaking. The project, titled “Portal Websites,” involves the delivery of comprehensive IT/ITeS and software development services. The scope of work includes enhancement of integrated web portals and applications to ensure improved responsiveness and mobile compatibility across Government digital platforms. Key deliverables include development using the Adobe Experience Manager platform along with associated mobile application components.
The total contract value is approximately Rs 1.06 crore, with a projected timeline of twelve months approximately for completion.
As of the date of this communication, Dev Information Technology holds active work orders valued at Rs 50 crore approximately from various Government entities across India.