DevX Sets Sights on $143-Crore IPO to Expand Office Spaces

Dev Accelerator Ltd has announced a price band of Rs 56-61 per share for its Rs 143-crore IPO, with the market valuation expected at Rs 550 crore. The IPO aims to fund new centers' fit-outs, debt repayment, and strategic expansion across major Indian cities.

Dev Accelerator Ltd, known for its flexible office spaces, has set a price band of Rs 56 to Rs 61 per share for its much-anticipated Rs 143-crore initial public offering (IPO) set for public bidding from September 10 to 12.

The company, also linked with Dev Information Technology Ltd, sees its market valuation reaching Rs 550 crore at the upper end of the offer. The IPO is purely a fresh issue targeting expansion, debt payment, and corporate initiatives.

DevX plans to utilize the influx to bolster their presence in cities like Mumbai, Pune, and Ahmedabad, with varied investor reservations slated as per the issue size once it debuts on September 17.

(With inputs from agencies.)