Dev Accelerator (DEVX) has received approval to raise up to Rs 35 crore through the preferential issuance of convertible warrants and equity shares to promoters and non-promoter investor. Of the total fundraise, promoters of the company are participating with a capital infusion of up to Rs 15 crore through convertible warrants, with the balance up to Rs 20 crore being subscribed by non-promoter investor through equity shares.

The proceeds from this fundraise will be exclusively utilized towards the payment of an Interest free refundable security deposit of Rs 35.10 crore for securing a managed workspace in Ahmedabad. The company has entered into a Letter of Intent (LoI) for around 4,50,000 square feet of space in a to-be-constructed building proposed to be named ‘Winston’, located on Bopal-Ambli Road, Ahmedabad. The centre will be operated under DevX's Straight Lease Model.

The Board of Directors of the company, at its meeting held on March 24, 2026, has approved the same.

Dev Accelerator, along with its subsidiaries and its associate companies, is primarily engaged in the business of providing workspace on rent, integrated facility management income (facility management services) and enterprise workspace designing and building services (construction and fit-out projects).