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Dev Accelerator Sets Price Band for ₹143-Crore IPO, Opening September 10
Dev Accelerator Sets Price Band for ₹143-Crore IPO, Opening September 10
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BTCCSquare news:
Dev Accelerator Ltd, a provider of flexible office spaces, has fixed a price band of ₹56 to ₹61 per share for its upcoming ₹143-crore initial public offering. The IPO, set to open on September 10 and close on September 12, is entirely a fresh issue of 2.47 crore equity shares.
At the upper end of the price band, the company's market valuation stands at ₹550 crore. Proceeds will be used for fit-outs in new centers, debt repayment, and general corporate purposes, including expansion into major Indian cities.
The offering allocates 75% to qualified institutional buyers, 15% to non-institutional investors, and 10% to retail investors. DevX currently operates 25 centers across more than 10 cities, with plans to expand further.
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