<p>New Delhi, Dev Accelerator Ltd, which provides flexible office spaces, on Thursday fixed a price band of Rs 56 to Rs 61 per share for its upcoming Rs 143-crore initial public offering (IPO).</p>.<p>At the upper end, the company's market validation is pegged at Rs 550 crore.</p>.<p>The company's initial share-sale will be available for public subscription during September 10-12, according to its public announcement.</p>.<p>Dev Accelerator (DevX) is promoted by listed entity Dev Information Technology Ltd.</p>.<p>The company's IPO is entirely a fresh issue of 2.47 crore equity shares worth Rs 143 crore at the upper end of the price band.</p>.<p>The company plans to utilise proceeds for "fit-outs" in the new centres and their security deposits; payment of debt; and general corporate purposes, including strategic initiatives, strengthening marketing capabilities, brand building exercises and payment of lease liabilities.</p>.<p>This capital infusion will enable DevX to expand its footprint in major cities, including Mumbai, Gurugram, Noida, Pune, Chennai, GIFT City, Ahmedabad, Vadodara, Rajkot, Surat, Goa, and Jaipur.</p>.<p>As of August 31, 2024, DevX had 25 centres in more than 10 cities, including Ahmedabad, Vadodara, Hyderabad, Delhi, and Udaipur.</p>.<p>The company said 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.</p>.<p>Further, investors can bid for one lot of 235 shares and in multiples of 235 thereafter.</p>.<p>Dev Accelerator is expected to make its stock market debut on September 17. </p>
<p>New Delhi, Dev Accelerator Ltd, which provides flexible office spaces, on Thursday fixed a price band of Rs 56 to Rs 61 per share for its upcoming Rs 143-crore initial public offering (IPO).</p>.<p>At the upper end, the company's market validation is pegged at Rs 550 crore.</p>.<p>The company's initial share-sale will be available for public subscription during September 10-12, according to its public announcement.</p>.<p>Dev Accelerator (DevX) is promoted by listed entity Dev Information Technology Ltd.</p>.<p>The company's IPO is entirely a fresh issue of 2.47 crore equity shares worth Rs 143 crore at the upper end of the price band.</p>.<p>The company plans to utilise proceeds for "fit-outs" in the new centres and their security deposits; payment of debt; and general corporate purposes, including strategic initiatives, strengthening marketing capabilities, brand building exercises and payment of lease liabilities.</p>.<p>This capital infusion will enable DevX to expand its footprint in major cities, including Mumbai, Gurugram, Noida, Pune, Chennai, GIFT City, Ahmedabad, Vadodara, Rajkot, Surat, Goa, and Jaipur.</p>.<p>As of August 31, 2024, DevX had 25 centres in more than 10 cities, including Ahmedabad, Vadodara, Hyderabad, Delhi, and Udaipur.</p>.<p>The company said 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.</p>.<p>Further, investors can bid for one lot of 235 shares and in multiples of 235 thereafter.</p>.<p>Dev Accelerator is expected to make its stock market debut on September 17. </p>