Dev Accelerator Approves ₹35 Crore Fundraise for Ahmedabad Workspace

On March 24, 2026, Dev Accelerator Limited announced that its Board of Directors approved a fundraise of up to ₹35 Crores. This will be achieved through the preferential issuance of Convertible Warrants and Equity Shares, subject to shareholder approval and regulatory compliance.

The fundraise includes a ₹15 Crore capital infusion from the company’s promoters through Convertible Warrants. The remaining amount, up to ₹20 Crores, will be subscribed by non-promoter investors through equity shares. The proceeds are designated for an Interest Free Refundable Security Deposit of ₹35.10 Crores to secure a managed workspace in Ahmedabad.

The company has entered into a Letter of Intent for approximately 4,50,000 sq. ft. of space in a to-be-constructed building named “Winston,” located on Bopal-Ambli Road, Ahmedabad. This workspace will operate under DevX’s Straight Lease Model.

Dev Accelerator Limited is an enterprise-focused, full-solution managed workspace platform. The company designs, builds, and operates custom offices, covering site selection, bespoke fit-outs, technology integration, and facility management under a single SLA. With one of India’s largest Tier-2 footprints by operational flex stock, DevX serves enterprises, startups, and global corporations with collaborative, customizable work environments across the country. The company operates 28 centres across multiple Indian cities with over 14,000 seats and 8.6 lakh sq. ft. under management.