Lt1 Inc made an offer to acquire 32.449781% stake in Dev Information Technology Limited (NSEI:DEVIT) for approximately INR 970 million on June 16, 2023. The open offer is for acquisition of up to 71,82,480 shares of Dev Information Technology Limited at a price of INR 134.50 per share, payable in cash. The offer is not subject to any minimum level of acceptance.

The offer will open on August 9, 2023 and close on August 24, 2023. The transaction is expected to close on November 16, 2023. Shivam Patel of Vivro Financial Services Private Limited was appointed as manager to the offer by Lt1 Inc. Sumeet Deshpande of Link Intime India Pvt.

Ltd. acted as registrar to the offer.