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Issue Open Date
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10-Sep-25
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Issue Closing Date
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12-Sep-25
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Application Money
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100
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Allotment Money
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Price Band
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56
-
61
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Minimium Application No.
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235
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Issue Size (Shares)
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13147075
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Market Lot
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1
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Objective
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1. Capital expenditure for fit-outs in the new Centres and for security deposits of the new Centres;2. Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company including redemption of non-convertible debentures issued by our Company (“NCDs”) in; and3. General corporate purposes.
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Category
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No. of Shares
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No. of Shares
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Subscription Ratio
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Offered / Reserved |
Bid For |
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Non-Institutional Investors
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3450975
|
303578875
|
87.9690160027239
|
|
Qualified Institutional Buyers
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6901950
|
140134965
|
20.3036772216547
|
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Retail Individual Investors
|
2300650
|
378952540
|
164.715423901941
|
|
|
|
|
Business Description
We are one of the largest flex space operators in terms of operational flex stock in Tier 2 markets (Source: JLL Report). Specializing in complete Built to Suit Managed Office Solutions for enterprises, we have established a presence across 15 submarkets in India across Tier 1 markets of Delhi NCR, Hyderabad, Mumbai, Pune and Tier 2 markets of Ahmedabad (including Gandhinagar), Indore, Jaipur, Udaipur, and Vadodara (Source: JLL Report). In addition to these, we also have an operational Centre in Rajkot. We commenced our operations in 2017 offering comprehensive office space solutions tailored to the needs of diverse businesses. We provide integrated services from sourcing office spaces, customizing designs, developing spaces and providing technology solutions to providing complete asset management. As on August 31, 2024, we service over 230 clients and have 25 Centers across 11 cities in India, with 12,691 seats covering a total area under management of 806,635 square feet. In addition, we have entered into signed letters of intent (“LOI”) with space owners for 3 additional Centers, including one international Center in Sydney, Australia, and have also entered into a lease deed for setting up a Center in Surat. These upcoming centers will have 11,500 seats aggregating to 897,341 sq. ft.
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Promoter's Holding
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|
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Total Share Capital
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33201850
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Offered to Public
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|
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Promoter's Holding (Pre-Issue)
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49.8
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Promoter's Holding (Post-Issue)
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Address |
C-01
The First Commercial Complex
Behind Keshavbaug Party Plot
Near Shivalik High Street
Vastrapur
Ahmedabad,
Gujarat,
380015
Phone : 7041482004
Email : compliance@devx.work
Website : www.devx.work
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Registrar |
K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.)
Karvy Selenium Tower B
Plot 31-32
Gachibowli
Financial District
Nanakramguda
Hyderabad
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Listed at |
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BSE, NSE
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Lead Manager |
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Pantomath Capital Advisors Pvt Ltd.
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Promoters |
Amisha Jaimin Shah
Dev Information Technology Ltd.
Jaimin Jagdishbhai Shah
Kruti Pranav Pandya
Parth Naimeshbhai Shah
Pranav Niranjan Pandya
Rushit Shardulkumar Shah
Umesh Satishkumar Uttamchandani
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