Dev Accelerator Ltd

Catalyst Trusteeship Limited, acting as Debenture Trustee for debenture holders, has disclosed the creation of an encumbrance on 1,85,96,640 shares of Dev Accelerator Ltd (DAL). This represents 19.65% of the total diluted share capital. The encumbrance is in connection with the issuance of up to INR 100 crore in senior, listed, secured, redeemable, non-cumulative, non-convertible debentures. The disclosure is made under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, due to conditions in the Debenture Trust Deed and Deed of Personal Guarantee, which include maintaining a minimum shareholding by guarantors and restrictions on corporate actions without the trustee's consent.

Dev Accelerator Limited (DAL) has filed a disclosure under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, regarding an encumbrance created by its promoters, Parth Shah, Rushit Shah, and Umesh Uttamchandani. This encumbrance is in connection with the company's issuance of up to ₹100 crore in senior, listed, secured, rated, redeemable, non-cumulative, taxable, transferable, non-convertible debentures (NCDs) on a private placement basis. The encumbrance involves covenants that restrict the promoters from reducing their collective shareholding below 19% and from ceasing their executive positions or directorships without the Debenture Trustee's consent. Additionally, DAL requires the Debenture Trustee's consent for significant corporate restructuring activities. This disclosure is made as the encumbrance has an economic effect similar to security under the Takeover Regulations.

Dev Accelerator Limited's promoters, Parth Shah, Rushit Shah, and Umesh Uttamchandani, have disclosed the encumbrance of their equity shares. This action is in connection with the company's issuance of up to ₹100 crore in senior, listed, secured, rated, redeemable, non-cumulative, taxable, transferable, non-convertible debentures on a private placement basis. The encumbrance is established through a debenture trust deed and a deed of personal guarantee executed in favor of the Debenture Trustee, Catalyst Trusteeship Limited. Key covenants include maintaining a minimum collective shareholding of 19% and retaining executive positions/directorships by the guarantors until the Final Redemption Date. The company also requires the Debenture Trustee's consent for significant corporate restructuring activities.

Dev Accelerator Ltd has announced the allotment of 100,000 Non-Convertible Debentures (NCDs) with a face value of ₹10,000 each, aggregating to ₹100 crore. The allotment was made on a private placement basis. These senior, listed, secured, rated, redeemable, non-cumulative, taxable, and transferable NCDs carry an interest rate of 11.75% per annum, payable monthly. The debentures have a tenure of 36 months, with maturity on August 4, 2029. The company has created a first-ranking pari passu charge over its movable and immovable assets as security, along with an exclusive charge over identified receivables. The NCDs will be listed on the Wholesale Debt Market segment of BSE Limited.

Dev Accelerator Ltd (DevX) has released its June 2026 monthly newsletter, highlighting significant achievements and market insights. The company was honored with the 'Excellence in Co-working Startup of the Year' award at the Crafting Bharat Business Conclave & Awards 2026. DevX also announced a substantial expansion in Bengaluru, adding 1.11 lakh sq ft across two premium Prestige Group addresses, increasing its seat capacity by over 1,200. The newsletter contrasts the struggling US office market with India's record-breaking office leasing, emphasizing a global 'flight to quality' where premium, well-managed spaces are in high demand, a trend DevX is well-positioned to capitalize on.

Dev Accelerator Ltd has announced the closure of its trading window for dealing in the company's securities. This measure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The window will be closed effective July 01, 2026, and will reopen 48 hours after the announcement of the unaudited financial results for the quarter ended June 30, 2026. The exact date of the board meeting to approve these results will be communicated separately. All designated persons and insiders are prohibited from trading during this period.

Dev Accelerator Ltd's Board of Directors approved the allotment of 33,33,330 convertible warrants to promoters and 44,44,440 equity shares to a non-promoter entity. The total value of these transactions is approximately ₹350 crore. The company also appointed Grant Thornton Bharat LLP as its Internal Auditor for FY2026-2027 and M/s Murtuza Mandorwala and Associates as Secretarial Auditor. The equity share allotment increases the company's paid-up capital.

Dev Accelerator Ltd's Board of Directors approved the allotment of 33,33,330 convertible warrants at ₹45 each to promoters, aggregating ₹14.99 crore. Additionally, 44,44,440 equity shares were allotted at ₹45 each to Infibeam Projects Management Private Limited, totaling ₹19.99 crore. The company also appointed Grant Thornton Bharat LLP as its internal auditor for FY27. These transactions increase the company's paid-up equity share capital.

Dev Accelerator Ltd's Board of Directors met on June 16, 2026, approving the allotment of 33,33,330 convertible warrants to promoters for ₹14.99 crore and 44,44,440 equity shares to a non-promoter entity for ₹19.99 crore. The company also appointed Grant Thornton Bharat LLP as Internal Auditor for FY 2026-2027. The equity share allotment increases the company's paid-up capital to ₹18.92 crore.

Dev Accelerator Ltd has released its May 2026 monthly newsletter, "The DevX Signal," detailing company progress, market insights, and strategic thinking. The newsletter highlights the company's focus on optimizing existing workspaces for people rather than just cost. Key updates include DevX's feature on Mint Catalyst discussing the rise of Tier 2 cities for building teams, and the opening of a new DevX location at Million Minds Tech City in Ahmedabad, inaugurated by Union Home Minister Amit Shah and Gujarat CM Bhupendra Patel. The newsletter also touches upon the growing flexible office market in APAC, with India leading the shift, and mentions the projected growth of India's data centre capacity.