Dev Labtech Venture Limited announced a private placement to issue 35,92,000 convertible warrants convertible into, or exchangeable for one equity share within the period of 18 months in accordance with the applicable laws and regulations at a price of INR 15.5 per warrant for the aggregate gross proceeds of INR 55,676,000 on October 24, 2023. The transaction has been approved by the board of directors of the company. The transaction included participation from a group of individual investors.