Dev Information Technology Limited has announced the withdrawal of its proposed preferential issue of up to 1,50,00,000 warrants convertible into equity shares. The decision was made during the Board of Directors meeting held on December 26, 2025. The company cited strategic business restructuring, potential collaborations, and prudent capital planning as key considerations for this withdrawal. Management is currently evaluating strategic business restructuring alternatives and potential collaborations to sharpen business focus and enhance operating efficiencies. The Board believes it is more prudent to reassess the timing, quantum, and structure of any future capital-raising exercise. The withdrawal does not impact the company's existing operations, commitments, or ability to meet financial obligations. The Board Meeting commenced at 01:30 p.m. and concluded at 02:30 p.m. on December 26, 2025.
