Dev Accelerator

Dev Accelerator

Mainboard

₹14,335 / 235 Shares

Offer Date:Sep 10, 2025 - Sep 12, 2025

IPO Live Subscription Details (times)

Date:12 Sep 2025, 06:55 PM
QIBs:20.30
NII:Bids above ₹10L: 78.94x
Bids below ₹10L: 106.02x
NII Total: 87.97
Retail:164.72x
Employee:17.61x
Total:63.97 times

IPO Details

Dev Accelerator IPO is priced between ₹56-61 per equity share, with a face value of ₹2 per share. The company's equity shares will be listed on the Mainboard, and Kfin Technologies Limited is managing the issue as the registrar.

The IPO bidding period opened on 10 Sep, 2025, and closed on 12 Sep, 2025. The allotment results will be announced on 15 Sep, 2025, with a tentative listing date set for 17 Sep, 2025.

The total issue comprises 2,35,00,000 shares, amounting to ₹143.35 Cr.

Dev Accelerator IPO Highlights

IPO DateListing DateFace ValuePrice BandLot SizeFresh IssueOffer for SaleListing At
Sep 10, 2025 - Sep 12, 202517 Sep, 2025₹2 Per Equity Share₹56-61 per equity share235 Shares Shares -BSE, NSE

Dev Accelerator IPO Timeline

IPO Open Date
10 Sep, 2025
IPO Close Date
12 Sep, 2025
Basis of Allotment
15 Sep, 2025
Listing Date
17 Sep, 2025

Issue Price

₹56-61 per equity share

Face Value

₹2 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Kfin Technologies Limited

Market Lot

Retail: 235 Shares (₹14,335/-)
S-HNI: 3,290 Shares (₹2,00,690/-)
B-HNI: 16,450 Shares (₹10,03,450/-)

Lead Manager

Pantomath Capital Advisors Pvt Ltd

Issue Size

2,35,00,000 shares(aggregating up to ₹143.35 Cr)

Retail Portion

10% (Number of Retail Applications: 9,790 Approx),(Number of S-HNI Applications : 350 Approx),(Number of B-HNI Applications : 699 Approx)

Subscription

63.97 times

Dev Accelerator IPO Financial Information

Period EndedAssetsRevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
31 Mar 25540.38178.891.7454.79-130.67
31 Mar 24411.09110.730.4328.79-101.05
31 Mar 23282.4271.37-12.831.22-33.20

All values are in ₹ Cr.

Dev Accelerator IPO Valuations

EPS PRE IPO

₹0.26/-

EPS POST IPO

₹0.19/-

PE PRE IPO

233.25

PE POST IPO

315.45

ROE

%

ROCE

25.95%

DEBT EQUITY

2.39

RONW

3.24%

PAT MARGIN

1.00%

PRICE TO BOOK VALUE

7.94

About Company

Founded in 2017, Dev Accelerator Limited, popularly referred to as DevX, offers agile office space, including coworking areas. The firm has grown to have a presence in 15 centers in India, covering prominent cities like Delhi-NCR, Hyderabad, Mumbai, and Pune.The business model of the company is centered on offering flexible workspace solutions to meet the changing demands of contemporary businesses. This involves offering customizable suites and desks, catering to remote work trends, and flexible lease terms.

As of May 31, 2025, the company has more than 250 clients and operates 28 centres in 11 Indian cities with 14,144 seats spread over an aggregate area under management of 860,522 square feet.The company have executed Letters of Intent (LOIs) for three new centers, including the company's first overseas centre in Sydney, Australia. We have also rented space for a new center in Surat. These new centers will provide 11,500 seats in an overall area of 897,341 sq. ft.

Dev Accelerator Limited offer agile office space solutions, such as managed offices and coworking facilities, to large corporations, MNCs, and SMEs. The subsidiary company, Neddle and Thread Designs LLP, also provides design and execution services.

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Dev Accelerator IPO Subscription Details

As onQIBNII
bNII  sNII
RetailTotal
Shares Offered / Reserved69,01,950
34,50,975

23,00,650    11,50,325
23,00,6501,31,47,085
Day 1 - 10-09-25 05:00 PM1.16 x
4.48

4.28 x   4.87 x
19.96 x5.41 x
Day 2 - 11-09-25 05:00 PM2.40 x
15.38

12.08 x   22.00 x
59.60 x16.14 x
Day 3 - 12-09-25 05:00 PM20.30 x
87.97

78.94 x   106.02 x
164.72 x63.97 x
Total No. of Applications:15,09,287 (Approx)
Retail Subscription:

Retail:146.0x

BHNI:15.0x

SHNI:102.0x times

Dev Accelerator IPO - Issue Objectives

  1. Capital expenditure for fit-outs in the new Centres and for security deposits of the new Centres.
  2. Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company including redemption of NCDs
  3. General corporate purposes.
Company Contact Details

Dev Accelerator

C-01, The First Commercial Complex, behind Keshavbaug Party Plot, Vastrapur, Ahmedabad, Gujarat, 380015

Phone: +91-7041482004

Email: compliance@devx.work

Website: http://www.devx.work/

Registrar Contact Details

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Email: dal.ipo@kfintech.com

Website: https://kosmic.kfintech.com/ipostatus/