New Launch3 Sept 2025, 12:42 pm
Dev Information Technology's Associate Company, Dev Accelerator Limited, Files for IPO with Rs. 1,081.16 Million Fresh Issue
AI Summary
Dev Information Technology Limited's promoted associate company, Dev Accelerator Limited (DevX), has filed a final Red Herring Prospectus (RHP) for an Initial Public Offering (IPO). The IPO comprises a fresh issue of up to 23,500,000 equity shares of face value ₹ 32 each, with proposed listing on both the NSE and BSE. The proceeds will be used for capital expenditure, repayment/prepayment of specific borrowings, and general corporate purposes. Dev Information Technology Limited has reserved a portion of the IPO for its shareholders and employees.
Key Highlights
- Dev Accelerator Limited (DevX), a promoted associate company of Dev Information Technology Limited, has filed a Red Herring Prospectus (RHP) for an Initial Public Offering (IPO).
- The IPO comprises a fresh issue of up to 23,500,000 equity shares of face value ₹ 32 each.
- The proceeds will be used for capital expenditure, repayment/prepayment of specific borrowings, and general corporate purposes.
- Dev Information Technology Limited has reserved a portion of the IPO for its shareholders and employees.
- The IPO is proposed to be listed on both the NSE and BSE.