India, Feb. 11 -- Market regulator Securities and Exchanges Board of India (SEBI) has returned the draft red herring prospectus (DRHP) of managed office space provider DevX (Dev Accelerator Ltd).

As per the information available on SEBI's website, the regulator returned the draft papers on February 5. It didn't mention the reason for returning the DRHP.

The Ahmedabad-based startup filed the DRHP for an initial public offering (IPO) of a fresh issue of 2.47 Cr equity shares on September 30, 2024.

The coordinating lead manager for the IPO was Pantomath Capital Advisors.

The startup planned to use the capital to pay for "fit-outs" in its new centres, security deposits, repayment and prepayment of certain borrowings, including redemption ...