Dev Accelerator Acquires 35% Stake in Eezily Network
Filing Summary
Dev Accelerator Limited has acquired a 35% equity stake in Eezily Network Private Limited, a newly incorporated company in the real estate sector. The investment amounts to INR 35,000, with Dev Accelerator subscribing to 3,500 equity shares at INR 10 each. This transaction does not constitute a related party transaction. Eezily Network was incorporated on November 6, 2025, and has yet to commence business operations. The acquisition was made through cash consideration, and no regulatory approvals were required.
Dev Accelerator Limited has informed BSE Limited and the National Stock Exchange of India Limited about its acquisition of a 35% equity stake in Eezily Network Private Limited. The announcement was made on November 7, 2025, following the incorporation of Eezily Network on November 6, 2025.
The investment involves the subscription to 3,500 equity shares of Eezily Network at a face value of INR 10 each, totaling an investment of INR 35,000. This transaction was executed in the capacity of a subscriber and is classified as a strategic investment by Dev Accelerator.
The acquisition does not fall under related party transactions, and there is no involvement of the promoter group or related entities. The transaction was conducted at arm’s length, and no governmental or regulatory approvals were necessary for this acquisition.
Eezily Network operates within the real estate industry. As a newly incorporated entity, it has not yet commenced business operations, and therefore, turnover details are not applicable at this stage. The company’s authorized and paid-up share capital is INR 100,000, divided into 10,000 equity shares of INR 10 each.
The investment was made through cash consideration, and there are no indicative timelines required for the completion of this acquisition, as it has already been executed.
Dev Accelerator Limited focuses on strategic investments and business development within various sectors. The company aims to expand its portfolio through targeted acquisitions and partnerships, aligning with its broader business objectives.