Dev Accelerator Limited IPO
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.
Price Band₹56 - ₹61 |
Dates10 Sep - 12 Sep |
GMP₹9 (14.75%) |
Subscriptions- |
Issue Size₹143.35 Crs |
Dev Accelerator IPO Objects
- Capital expenditure for fit-outs in the Proposed Centers
- Repayment of certain borrowings availed by our Company including redemption of non-convertible debentures issued by our Company
- General corporate purposes
Dev Accelerator IPO Details
Price Band₹56 - ₹61 |
Listing AtNSE & BSE |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹143.35 Cr (2.35 Cr Shares) |
Offer For Sale₹0.00 (0.00 Shares) |
Total Issue₹143.35 Cr (2.35 Cr Shares) |
Face Value₹2 per equity share |
Dev Accelerator IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Retail |
Minimum
1
235
14,335
Maximum
13
3,055
1,86,355
|
|||
| Small HNI |
Minimum
14
3,290
2,00,690
Maximum
69
16,215
9,89,115
|
|||
| Big HNI |
Minimum
70
16,450
10,03,450
|
|||
Dev Accelerator IPO GMP
The estimated Grey Market Premium of Dev Accelerator IPO is ₹9 per share (14.75%)
Disclaimer: The GMP prices displayed here reflect news related to grey market trends. We do not trade or deal in the grey market, including subject-to-rates, nor do we recommend participating in grey market trading.
Category Allocation
| Particulars | Allocation |
|---|---|
| QIB | Not less than 75% of Net Offer |
| Big HNIs (NII) | Not more than 10% of Net Offer |
| Small HNIs (NII) | Not more than 5% of Net Offer |
| Retail | Not more than 0% of Net Offer |
| Employee | 164,500 EQ Shs |
| Shareholder | 329,000 EQ Shs |
Dev Accelerator IPO Financials
| 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 |
The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | Values |
|---|---|
| EBITDA | 50.64% |
| PAT | 1.00% |
| ROCE | 25.95% |
| Debt to Equity | 2.39 |
| PE Ratio | 225.93 |
| PB Ratio | 7.94 |
| Mkt Cap (in Crs.) | 550.14 |
All the data pertains to FY 2024-25. PE, PB, and market capitalization are calculated based on the Upper Price Band.
Dev Accelerator IPO Peer Comparision
| 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 Peer Comparision
| Particulars | Dev Accelarators |
|---|---|
| Revenue from Ops (in Crs.) | 158.88 |
| PAT (In Crs.) | 1.77 |
| EPS - Basic | 0.27 |
| NAV per share | 7.68 |
| RONW | 3.24% |
| EBITDA | 50.64% |
| PAT Margin | 1.00% |
| Price to earning (PE) | 225.93 |
| Debt to Equity | 2.39 |
| Awfis Space | Smartworks | Indiqube |
|---|---|---|
| 1,207.54 | 1,374.06 | 1,059.29 |
| 67.87 | -63.18 | -139.62 |
| 9.75 | -6.18 | -7.65 |
| 64.71 | 10.45 | -0.24 |
| 14.78% | -58.56% | NA |
| 35.40% | 62.39% | 58.20% |
| 5.38% | -4.48% | -12.66% |
| 60.95 | -74.04 | -28.69 |
| 0.05 | 3.69 | -71.51 |
Promoter Details
| Name | Shareholding |
|---|---|
| Dev Technology | 21.90% |
| Parth Shah | 9.30% |
| Rushit Shah | 9.30% |
| Umesh Uttamchandani | 9.30% |
| Total | 49.80% |
Management Details
| Name | Designation |
|---|---|
| Parth Shah | Chairman |
| Umesh Uttamchandani | Managing Director |
| Parin Shah | Jt. CFO |
| Parthiv Panchal | Jt. CFO |
Company Details
Name: Dev Accelerator Limited
Address: C-01, The First
Commercial Complex,
behind Keshavbaug Party
Ahmedabad, GujaratÂÂÂÂÂ
380015, India.Â
Number: 7041482004
Email: compliance@devx.work
Website: www.devx.work
Book Running Lead Managers (BRLMs)
Pantomath Capital
Visit WebsiteRTAs
KFin Technologies
Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Dev Accelerator IPO is a Mainboard IPO having an issue size of Rs. ₹143.35 Crs. Dev Accelerator IPO is priced at ₹56 - ₹61 per share. The issue opens on 10 Sep 25 and closes on 12 Sep 25.
Dev Accelerator IPO opens on 10 Sep 25 and closes on 12 Sep 25.
The estimated Grey Market Premium of Dev Accelerator IPO is ₹9 per share (14.75%).
The minimum lot size of Dev Accelerator IPO is 235 shares & the minimum application amount is Rs. 14335.
The allotment date of Dev Accelerator IPO is 15 Sep 25.
The listing date of Dev Accelerator IPO is 17 Sep 25.
Dev Accelerator IPO is subscribed -.
Dev Accelerator IPO is priced at ₹56 - ₹61 per share.
Click the allotment link on Dev Accelerator IPO page of IPO360.
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