Dev Labtech approves Rs 17.81 crore preferential warrants

Dev Labtech Venture Limited shareholders approved on 5 November 2026 a preferential issue of up to 1.37 crore convertible warrants at Rs 13 each, with a maximum aggregate value of Rs 17.81 crore. Each warrant can be exercised for one equity share, and holders have 18 months from allotment to convert in one or more tranches.

What did Dev Labtech shareholders approve?

Dev Labtech approved the cash issue of up to 1.37 crore convertible warrants on a preferential basis at its Extraordinary General Meeting held on 5 November 2026. The warrants are proposed for promoter, promoter-group and non-promoter investors at Rs 13 each, producing the stated maximum issue amount of Rs 17.81 crore.

Each warrant is exercisable into one equity share with a face value of Rs 5. The Rs 13 warrant price consists of the Rs 5 face value and an Rs 8 premium for each underlying equity share. If all 1.37 crore warrants are exercised, up to 1.37 crore equity shares may be issued under the disclosed mechanism.

The 5 November 2026 filing followed Dev Labtech’s earlier intimation dated 7 October 2026. The company said the board may determine the form and manner of the issue in accordance with applicable law, including Chapter V of the Securities and Exchange Board of India (SEBI) Issue of Capital and Disclosure Requirements Regulations. It also recorded no cancellation or termination of the proposal.

Who are the proposed Dev Labtech warrant investors?

Dev Labtech identified seven proposed investors, comprising four promoter or promoter-group recipients and three non-promoter recipients. The promoter-side recipients are proposed to receive 107.92 lakh warrants worth Rs 14.0296 crore, while the non-promoter recipients are proposed to receive 29.08 lakh warrants worth Rs 3.7804 crore.

Donda Jerambhai Lavjibhai and Donda Labhuben Jerambhai, both classified as promoters, are each proposed to receive 27 lakh warrants worth Rs 3.51 crore. Jaykumar J Donda, classified as a promoter, and Donda Jerambhai Lavjibhai HUF, classified as promoter group, are each proposed to receive 26.96 lakh warrants worth Rs 3.5048 crore.

Among the non-promoter investors, Vanrajsinh Boghubha Sarvaiya and Rajendrasinh Hathisinh Sarvaiya are each proposed to receive 14.16 lakh warrants worth Rs 1.8408 crore. Sachin Madhusudan Chhatre is proposed to receive 76,000 warrants worth Rs 9.88 lakh. The 76,000-warrant allocation is 13.40 lakh warrants smaller than either 14.16 lakh-warrant non-promoter allocation.

How and when can Dev Labtech warrants convert?

Dev Labtech said every warrant is exercisable into one equity share, and conversion may occur in one or more tranches. The full approved issue of 1.37 crore warrants therefore represents the maximum number of equity shares that could result from exercise under the disclosed one-for-one conversion ratio.

The warrant tenor is 18 months from the date of allotment, rather than from the 5 November 2026 shareholder meeting. Dev Labtech did not disclose an allotment date in this announcement, so the filing does not establish the calendar date on which the 18-month exercise window will end.

The announcement also does not provide a conversion schedule, an instalment schedule, or the number of warrants that each of the seven investors may exercise in any particular tranche. The Rs 17.81 crore figure is the aggregate value of the approved 1.37 crore warrants at Rs 13 each, while equity shares arise when warrants are exercised within their stated tenor.

What ownership outcome did Dev Labtech disclose?

Dev Labtech disclosed that, pursuant to the allotment described in the filing, promoter and promoter-group shareholding would stand at 61.64%, while non-promoter shareholding would stand at 38.36%. The two stated ownership percentages total 100%, and the promoter-side percentage is 23.28 percentage points above the non-promoter percentage.

The proposed allocation is concentrated among promoter and promoter-group recipients, who account for 107.92 lakh of the 137 lakh approved warrants. That represents 78.77% of the warrant count, compared with 21.23% for the three non-promoter recipients, whose proposed allocation totals 29.08 lakh warrants.

In monetary terms, promoter and promoter-group recipients account for Rs 14.0296 crore of the Rs 17.81 crore proposed issue. The three non-promoter recipients account for Rs 3.7804 crore. The filing does not provide the pre-issue shareholding percentages, existing paid-up share capital, or a separate ownership calculation for each possible conversion tranche.

Conclusion

Dev Labtech’s 5 November 2026 shareholder approval authorises a preferential issue of up to 1.37 crore warrants valued at Rs 17.81 crore at the stated Rs 13 price. The proposal directs 107.92 lakh warrants to promoter and promoter-group recipients and 29.08 lakh warrants to non-promoters, with every warrant carrying a one-equity-share exercise right.

The next disclosed milestone is allotment because the warrants have an 18-month tenor from that date and may be exercised in one or more tranches. Investors can watch for subsequent Dev Labtech disclosures on the allotment date, warrant exercises by the seven named investors and the implementation of the stated 61.64% promoter and promoter-group holding.