Dev Information Technology (Dev IT) has sold 5.45% of its equity holding in Dev Accelerator (DevX), a Managed Co-Working Space business, at a valuation of Rs 104 crore. Dev IT co-promoted ‘DevX’ in the year 2017 as a managed co-working space with 720 seats. As on September 30, 2022 DevX has 8,000 seats running at 79% capacity utilization levels. Since its inception DevX has seen a significant interest of investors to invest and participate in the growth of this business.
This secondary sale will bring down DEV IT’s shareholding in DevX from 41.26% to 35.81%. This will not only help unlock the valuation for shareholders of Dev IT but also help the company invest in new age business like Blockchain, AI, ML amongst others for the growth of its core business.
Dev Information Technology is mainly engaged in business of automation software development.
| Company Name | CMP |
|---|---|
| TCS | 2581.65 |
| Infosys | 1318.60 |
| HCL Tech. | 1442.50 |
| Wipro | 204.35 |
| Tech Mahindra | 1511.85 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: