Dev Accelerator Limited IPO
Dev Accelerator Limited IPO
Mainboard NSE & BSE 100% Book Built Offer
Closed

Price Band

₹56 - ₹61

Total Issue

₹143 Cr

Bid Dates

10 Sep - 12 Sep

Subscription

65.61x

Listing Price

₹61 (0.00%)

Website RHP Check Allotment

Valuation

Market Cap

₹550.14 Cr

P/E Ratio

225.93x

P/B Ratio

7.94x

Dev Accelerator IPO Dates

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

Dev Accelerator offers flexible workspace solutions ranging from individual desks to customized offices with exclusive client access, positioning itself as a one-stop integrated platform for workplace requirements. The company sources and procures spaces through the Straight Lease, Revenue Share, Furnished by Landlord, and OpCo–PropCo models. With a presence across Tier 1 and Tier 2 markets including Delhi NCR, Hyderabad, Mumbai, Pune, Ahmedabad, Gandhinagar, Indore, Jaipur, Udaipur, Rajkot, and Vadodara, Dev Accelerator provides end-to-end office solutions covering design, development, technology integration, and asset management, including upkeep, HVAC, electricals, housekeeping, and administration.

Dev Accelerator IPO Lot Size

Lot Information for Dev Accelerator IPO
Category Lots Shares Amount
Retail (Min) 1 235 ₹14,335
Retail (Max) 13 3,055 ₹1,86,355
S-HNI (Min) 14 3,290 ₹2,00,690
S-HNI (Max) 69 16,215 ₹9,89,115
B-HNI (Min) 70 16,450 ₹10,03,450
Allocate Funds

Category Reservation

QIB 75%
NII 15%
Ret 10%
Employee
164,500 EQ Shs
Shareholder
329,000 EQ Shs

Dev Accelerator IPO Size

Total ₹143.35 Cr
Fresh Issue
₹143 Cr (2.35 Cr Shares)
Offer For Sale
₹0 (0.00 Shares)

Objects of Issue

  1. Capital expenditure for fit-outs in the Proposed Centers
  2. Repayment of certain borrowings availed by our Company including redemption of non-convertible debentures issued by our Company
  3. General corporate purposes

Dev Accelerator IPO IPO Live Subscription

Updated as on 12-Sep-2025 19:00:00

Dev Accelerator IPO IPO Subscription Status (Mainboard)
Category Sub (x) Offered Bids
QIB 20.30 69,01,950 14,01,34,965
NII 87.97 34,50,975 30,35,78,875
bHNI 78.94 23,00,650 18,16,20,690
sHNI 106.02 11,50,325 12,19,58,185
Retail 164.72 23,00,650 37,89,52,540
Employee 17.61 1,64,500 28,97,315
Total 65.61 1,28,18,075 84,10,19,175

Dev Accelerator IPO IPO Details Live GMP

GMP ₹6
Est. Price ₹67
Est. Gain 9.84%

Dev Accelerator IPO Peer Comparison

(Rs. in crores)

Dev Accelerator IPO Peer Comparison Table
Particulars Dev Accelarators Awfis Space Smartworks Indiqube
Revenue from Ops (in Crs.) 158.88 1,207.54 1,374.06 1,059.29
PAT (In Crs.) 1.77 67.87 -63.18 -139.62
EPS - Basic 0.27 9.75 -6.18 -7.65
NAV per share 7.68 64.71 10.45 -0.24
RONW 3.24% 14.78% -58.56% NA
EBITDA 50.64% 35.40% 62.39% 58.20%
PAT Margin 1.00% 5.38% -4.48% -12.66%
Price to earning (PE) 225.93 60.95 -74.04 -28.69
Debt to Equity 2.39 0.05 3.69 -71.51

Dev Accelerator IPO IPO Financial Performance

(Rs. in crores)

Financial Performance Metrics for Dev Accelerator IPO
Particulars Mar-25 Mar-24 Mar-23
Revenue from Operations 158.88 108.09 69.91
Profit after Tax 1.77 0.44 -12.83
Net Worth 54.79 28.79 1.22
Total Borrowing 130.67 101.05 33.20
Total Assets 540.38 411.09 282.42
NAV per share (in ₹) 7.68 4.10 -0.43
EPS - Basic (in ₹) 0.27 0.08 -2.55

Key Performance Indicators (KPIs)

EBITDA

50.64%

PAT

1.00%

ROCE

25.95%

Debt to Equity

2.39

All the data pertains to FY 2024-25. PE, PB, and market capitalization are calculated based on the Upper Price Band.

Promoter Holding

Promoter

49.80%

Public

50.20%

Dev Technology 21.90%
Parth Shah 9.30%
Rushit Shah 9.30%
Umesh Uttamchandani 9.30%

Management

Parth Shah
Chairman
Umesh Uttamchandani
Managing Director
Parin Shah
Jt. CFO
Parthiv Panchal
Jt. CFO

Registrar & Lead Managers

Registrar

KFin Technologies

Lead Managers (1)

Pantomath Capital

Company Details

Name: Dev Accelerator Limited

Address: C-01, The First
Commercial Complex,
behind Keshavbaug Party
Ahmedabad, Gujarat
380015, India.Â

Number: 7041482004

Email: compliance@devx.work

Website: www.devx.work

Frequently Asked Questions (FAQs)

What is Dev Accelerator IPO?
Dev Accelerator IPO is a Mainboard IPO having an issue size of ₹143 Crs. Dev Accelerator IPO is priced at ₹56 - ₹61 per share. The issue opens on 10 Sep 25 and closes on 12 Sep 25.
When will Dev Accelerator IPO open?
Dev Accelerator IPO opens on 10 Sep 25 and closes on 12 Sep 25.
What is the GMP of Dev Accelerator IPO?
The estimated Grey Market Premium of Dev Accelerator IPO is ₹6 per share (9.84%).
What is the lot size of Dev Accelerator IPO?
The minimum lot size of Dev Accelerator IPO is 235 shares & the minimum application amount is Rs. 14335.
When is the allotment of Dev Accelerator IPO?
The allotment date of Dev Accelerator IPO is 15 Sep 25.
What is the listing date of Dev Accelerator IPO?
The listing date of Dev Accelerator IPO is 17 Sep 25.
What is the subscription of Dev Accelerator IPO?
Dev Accelerator IPO is subscribed 63.97 times.
What is the price band of Dev Accelerator IPO?
Dev Accelerator IPO is priced at ₹56 - ₹61 per share.
How to check allotment status of Dev Accelerator IPO?
Click the allotment link on Dev Accelerator IPO page of IPO360.
How to apply Dev Accelerator IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Dev Accelerator IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Dev Accelerator IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Dev Accelerator IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date