DevX's IPO is entirely a fresh issue of 2.47 crore
It proposes to use Rs 30 crore towards repayment and/or prepayment (in full or in part) of certain borrowings, according to the draft red herring prospectus (DRHP) filed with markets regulator Sebi.
The remaining amount will be allocated for general corporate purposes, including strategic initiatives, strengthening marketing capabilities and brand-building exercises, payment of lease liabilities, among others.
This
As of August 31, 2024, DevX had 25 centres in more than 10 cities, including Ahmedabad, Vadodara, Hyderabad, Delhi, and Udaipur.
The collaboration between Dev IT's expertise in digital transformation and DevX's flexible workspace solutions creates a unique synergy, offering integrated solutions for enterprises looking to enhance operational efficiency.
On the IPO, Pranav Pandya, Founder & Chairman of Dev Information Technology Ltd, said, "This significant milestone underscores our commitment to the dynamic growth of the flexible workspace sector in India."
The funds raised will be instrumental in accelerating DevX's
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