Dev Accelerator clears NSE and BSE hurdle to raise ₹35 cr
Promoters are converting warrants and new investors are writing cheques for a coworking expansion. The raise equals 10.7% of the company's current value.
— 2 earlier stories on Dev Accelerator Ltd. →What's new
- Dev Accelerator has in-principle approval from NSE and BSE for a 77,77,770-share preferential issue.
- The issue is priced at a floor of ₹45 per share and will raise at least ₹35 crore.
- Promoters are converting warrants into 33,33,330 shares; non-promoters are getting 44,44,440 shares.
Why this matters
For a nano-cap with a market cap of ₹326 crore, a ₹35 crore raise is material. It equals 10.7% of the company's value and is the next step in funding its managed workspace expansion. The approvals, dated June 8 and June 9, remove the main regulatory block.
What we're watching
- The final pricing of the shares, which will be at least ₹45 each.
- The speed of capital deployment into new coworking spaces.
- The stock's reaction once the dilution becomes concrete.
The full read
Dev Accelerator has NSE and BSE clearance to proceed with a preferential issue of 77,77,770 shares at a floor price of ₹45. The raise will bring in at least ₹35 crore. For a company with a market cap of ₹326 crore, this is a significant raise equal to 10.7% of its value. Promoters are converting 33,33,330 warrants, while 44,44,440 shares go to non-promoter investors. The approvals, dated June 8 and June 9, remove the primary regulatory obstacle. The capital is earmarked for expanding the company's managed workspace footprint. The next step is final pricing and allotment.
Questions answered
- Who is buying the new shares?
- Promoters will subscribe to 33,33,330 shares by converting previously held warrants. The remaining 44,44,440 shares will be issued on a preferential basis to non-promoter investors.
- How significant is this raise for Dev Accelerator?
- The minimum ₹35 crore to be raised is equivalent to 10.7% of Dev Accelerator's current market capitalization of ₹326 crore. This is a material capital injection for a company of this size.
- What is the purpose of the capital raise?
- The capital will support Dev Accelerator's expansion in the coworking and managed workspace business. The board had previously obtained shareholder approval for this fundraising.
- What do the in-principle approvals actually mean?
- They confirm that the proposed preferential issue structure—a total of 77,77,770 shares at a floor price of ₹45—meets the listing requirements of both exchanges. It is a key regulatory green light before the shares can be allotted.
Story so far
All notes on DEVX →- 9 Jun 2026 · 5:29 PM IST Dev Accelerator clears NSE and BSE hurdle to raise ₹35 cr
- 1d ago Dev Accelerator adds 1.11 lakh sq ft of Bengaluru workspace with Prestige
- 14d ago Dev Accelerator transcript adds no new material to prior disclosures