New Delhi, Oct. 20 -- Shares of small-cap IT company Dev Information Technology zoomed nearly 17% in intraday deals on Monday, October 20, snapping their six-day winning run following a fundraising plan.

Dev Information Technology, over the weekend, announced board approval for raising funds via warrants of up to Rs.68.17 crore. The company said it will issue up to 1.50 crore warrants convertible into equity shares of Rs.45.45 each to Aeroflex Enterprises, a non-promoter, on a preferential basis.

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Published by HT Digital Content Services with permission from MINT....