DevX Shares Make Muted Debut On Bourses

Coworking space provider DevX’s (Dev Accelerator) made a muted debut on the stock exchanges today. The stock listed at INR 61.30 on the BSE, marginally above its issue price of INR 61.

On the NSE, the shares got listed flat at INR 61.

At 10:10, the stock was trading 5.5% above the issue price at INR 64.35 on the BSE. Its market capitalisation stood at INR 580.4 Cr (about $66.1 Mn).

DevX’s public issue closed with an oversubscription of about 63.97X, with investors bidding for 84.1 Cr shares as against 1.32 Cr shares on offer. The IPO comprised solely a fresh issue of 2.35 Cr shares.

Meanwhile, another new-age tech company, Urban Company, made a blockbuster listing today. Its shares made their public market debut at a premium of 56% to the issue price.

(The story will be updated soon)

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