DevX IPO: Exciting New Opportunity with 143 Crore Issue Size

Published On: 07/09/20252.5 min read

DevX IPO: Exciting New Opportunity with 143 Crore Issue Size

The DevX IPO, an upcoming public offering from a prominent coworking space provider, presents an intriguing investment opportunity for both retail and institutional investors. Set to open on September 10, this IPO aims to raise a significant amount of capital with an expected issue size of INR 143.35 Crores. Investors are keen to know more about its details, subscription status, and overall market perspective.

Company Overview

Founded in 2017, DevX has established itself as a major player in the coworking space industry in India. The company operates managed office spaces and has expanded significantly, with over 26 operational centers spanning 11 cities. This strategic growth aligns with the surge in demand for flexible office solutions, making DevX a timely entrant to the public market.

IPO Details

  • IPO Type: Mainline
  • Issue Size: INR 143.35 Crores (Fresh Issue)
  • Price Band: INR 56 to INR 61 per share
  • Lot Size: 240 shares
  • GMP (Grey Market Premium): N/A
  • Open Date: September 10, 2025
  • Close Date: September 12, 2025
  • Listing Date: September 17, 2025

IPO Objectives

The proceeds from the IPO will be used for increasing operational centers and enhancing the company’s ability to deliver superior coworking space options to its clients. This expansion is crucial for capitalizing on the growing demand for flexible office configurations amidst changing work patterns.

Pre-IPO Placements

DevX has raised approximately INR 16.1 million in funding from reputable investors, which notably includes Navneet Publications and Urmin Group. The company has also attracted a range of private placements, enhancing its balance sheet prior to the public offering.

Financial Highlights

  • Revenue: FY23 – INR 71.37 Crores; FY24 – INR 110.73 Crores
  • Profit After Tax (PAT): FY24 – INR 44 Lakhs; FY25 – INR 1.7 Crores
  • Return on Equity (ROE): Data not disclosed

Peer Comparison

In comparison to its peers in the coworking space sector, DevX is positioned favourably in terms of both market share and growth potential, with a current estimated market cap rising upon successful IPO completion.

Strengths

  • Established brand within the coworking niche
  • Strategic geographical expansion
  • Strong initial financial performance and upward trajectory

Risks

  • Increasing competition in the coworking segment
  • Market fluctuations affecting property demand and rental prices

Expert Verdict

Market analysts suggest that DevX’s expansion strategies combined with its solid financial performance may make it a compelling option for investors seeking exposure in the coworking space sector. However, like any investment, potential risks should be carefully evaluated.

Subscription Status

The IPO subscription will begin from September 10, 2025, and close on September 12, 2025. As per early indicators, the retail quota is set at 10%, while 75% will be allocated for Qualified Institutional Buyers (QIB).

Allotment & Listing Timeline

  • Allotment Date: September 15, 2025
  • Listing Date: September 17, 2025

FAQs

  • What is the price band for the DevX IPO?
    The price band is set at INR 56 to INR 61 per share.
  • How many shares can I buy?
    The lot size is 240 shares.
  • When does the IPO open for subscription?
    The IPO opens on September 10, 2025.

How to Apply

Interested investors can apply through various platforms such as Zerodha or any other stock brokerage that facilitates IPO applications.

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