The proposal is subject to the approval of equity shareholders in the ensuing extra ordinary general meeting.

The record date for share split will be decided after taking aforesaid approval of the equity shareholders, it added.

The rationale behind the split is to improve liquidity of the equity shares of the company in the capital markets through widening shareholder base and to make it more affordable for retail investors.

The sub-division is expected to be completed within 3 months from the date of shareholder's approval.

Dev Information Technology is a technology solution provider helping companies in their digital transformation from advisory to execution backed by expert applications and infrastructure management. As on 25 November 2024, the company's market capitalization stood at Rs 404.39 crore.

The company's consolidated net profit surged 411.6% to Rs 8.39 crore on 28.6% rise in revenue from operations to Rs 35.94 crore in Q2 FY24 over Q2 FY23.

The scrip hit an all time high of Rs 185 in today's intraday session.

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