DEVX surges on getting nod for raising up to Rs 35 crore to expand flexible workspace footprint
Dev Accelerator is currently trading at Rs. 36.90, up by 0.72 points or 1.99% from its previous closing of Rs. 36.18 on the BSE.
The scrip opened at Rs. 38.36 and has touched a high and low of Rs. 38.36 and Rs. 35.70 respectively. So far 8978 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 64.36 on 17-Sep-2025 and a 52 week low of Rs. 34.00 on 27-Jan-2026.
Last one week high and low of the scrip stood at Rs. 39.71 and Rs. 35.55 respectively. The current market cap of the company is Rs. 332.79 crore.
The promoters holding in the company stood at 36.81%, while Institutions and Non-Institutions held 7.90% and 55.29% respectively.
Dev Accelerator (DEVX) has received approval to raise up to Rs 35 crore through the preferential issuance of convertible warrants and equity shares to promoters and non-promoter investor. Of the total fundraise, promoters of the company are participating with a capital infusion of up to Rs 15 crore through convertible warrants, with the balance up to Rs 20 crore being subscribed by non-promoter investor through equity shares.
The proceeds from this fundraise will be exclusively utilized towards the payment of an Interest free refundable security deposit of Rs 35.10 crore for securing a managed workspace in Ahmedabad. The company has entered into a Letter of Intent (LoI) for around 4,50,000 square feet of space in a to-be-constructed building proposed to be named ‘Winston’, located on Bopal-Ambli Road, Ahmedabad. The centre will be operated under DevX's Straight Lease Model.
The Board of Directors of the company, at its meeting held on March 24, 2026, has approved the same.
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