Dev InfoTech's DevX Files Draft Red Herring Prospectus for IPO with Fresh Issue of 27.5 Million Shares

Dev Information Technology Ltd (DEV IT) has made an announcement that its managed office space and co-working space subsidiary, DevX, has submitted a Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The IPO will include a fresh issue of a maximum of 27.5 million shares with the objective of raising funds to drive the expansion and growth strategies of the company.

 

Key Highlights:

Leadership Insights:

A DEV IT spokesperson said, "The IPO is a big milestone for DevX as it continues to scale operations and respond to the changing needs of business."

 

Outlook:

With this IPO, DevX is expected to consolidate its position in India's thriving co-working space business.

 

Sources: Economic Times, Business Standard; April 1, 2025