StockWatch
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IT Enabled Services
Divestment29 May 2026, 01:41 am

Dev IT to divest 25% stake in Dhyey Consulting for ₹4.6 Cr

AI Summary

Dev Information Technology Limited's Board approved the sale of a 25% equity stake in its wholly-owned subsidiary, Dhyey Consulting Services Private Limited, to Unique Comp, Inc for an aggregate consideration of ₹4.60 crore. Post-transaction, Dhyey Consulting will cease to be a wholly-owned subsidiary but will remain a subsidiary. The Board also approved the standalone and consolidated audited financial results for the quarter and year ended March 31, 2026, with an unmodified opinion. Additionally, a final dividend of 5% (₹0.10 per equity share) was recommended, and M/s. Manav Sheth and Company was re-appointed as internal auditor for FY2026-27.

Key Highlights

  • Dev IT to divest 25% equity stake in its wholly-owned subsidiary, Dhyey Consulting Services.
  • The sale is to Unique Comp, Inc for a consideration of ₹4.60 crore.
  • Dhyey Consulting will remain a subsidiary, but no longer wholly owned.
  • Board approved audited financial results for Q4 and FY2026 with unmodified opinion.
  • A final dividend of ₹0.10 per equity share (5%) was recommended for FY2026.