India, March 24 -- Coworking space provider DevX (Dev Accelerator) plans to raise fresh capital from Infibeam Avenues' subsidiary Infibeam Projects Management and its cofounders within six months of listing on the exchanges.

The company's board today approved issuance of up to 33.33 Lakh warrants to promoters and cofounders Parth Shah, Umesh Uttamchandani and Rushit Shah for Rs.45 apiece, translating to a total investment of Rs.15 Cr. 

The warrants can be exercised, in one or more tranches, within a period of 18 months from the date of allotment. Currently, all three cofounders hold about 62 Lakh shares, or 6.87% stake, in the company.  

The board also approved the issuance of up to 44.44 Lakh equity shares to Infibeam P...