Dev Accelerator Limited's board approved a ₹35 crore fundraise via preferential issuance of convertible warrants and equity shares on March 24, 2026.
Promoters will infuse up to ₹15 crore via convertible warrants; non-promoter investor subscribes up to ₹20 crore via equity shares.
Proceeds will fund a ₹35.10 crore interest-free refundable security deposit for a ~4,50,000 sq. ft. managed workspace in Ahmedabad.
The new 'Winston' centre on Bopal-Ambli Road, Ahmedabad, will operate under DevX's Straight Lease Model, pending shareholder approval.