Dev Accelerator Ltd.
Dev Accelerator IPO is a book-built issue with a total size of ₹143.35 crore. The issue is entirely a fresh issue of 2.35 crore shares aggregating to ₹143.35 crore. The IPO opens for subscripti ...
The basis of allotment is expected to be finalised on September 15, 2025. The shares are proposed to be listed on the BSE and NSE, with a tentative listing date of September 17, 2025. The price band for the Dev Accelerator IPO has been fixed between ₹56.00 and ₹61.00 per share.
The lot size is set at 235 shares. A retail investor is required to make a minimum investment of ₹14,335 (1 lot of 235 shares at the upper price band). The maximum investment for retail is ₹1,86,355 for 13 lots (3,055 shares). For High Net-worth Individuals (HNIs), the minimum application is for 14 lots (3,290 shares) amounting to ₹2,00,690, while Big HNIs can apply for a minimum of 70 lots (16,450 shares) amounting to ₹10,03,450.
Read moreIPO Timeline
-
10 Sep 2025Bidding Starts
-
12 Sep 2025Bidding Ends
-
15 Sep 2025Allotment Finalization
-
16 Sep 2025Refund Date
-
16 Sep 2025Demat Date
-
17 Sep 2025Listing Date
Dev Accelerator Ltd. Financial Result in crore
| Year | Asset | Revenue | Profit |
|---|---|---|---|
| 31 Mar 2023 | 282.42 Cr | 71.37 Cr | -12.83 Cr |
| 31 Mar 2024 | 411.09 Cr | 110.73 Cr | 0.43 Cr |
| 31 Mar 2025 | 540.38 Cr | 178.89 Cr | 1.74 Cr |
About Dev Accelerator Ltd.
About Dev Accelerator Limited
Dev Accelerator Limited, established in 2017 and popularly known as DevX, is engaged in providing flexible office spaces, including coworking envir
...
The company has rapidly expanded its presence across 11 cities in India, operating 28 centres with 14,144 seats and a total area under management of 8.6 lakh sq. ft. as of May 31, 2025. Dev Accelerator has also signed Letters of Intent for three new centres, including its first international centre in Sydney, Australia, and an upcoming facility in Surat, which together will add 11,500 seats across 8.97 lakh sq. ft.
The company’s client base exceeds 250 corporates, and its offerings include customisable workspaces, dedicated suites, and flexible leasing solutions that address the evolving trends of remote and hybrid work. Its subsidiary, Neddle and Thread Designs LLP, provides design and execution services, further strengthening its service portfolio.
Headquartered in Ahmedabad, Gujarat, Dev Accelerator positions itself as one of the largest homegrown flex space operators in India, leveraging demand from modern businesses for scalable, cost-efficient, and collaborative work environments.
Read moreDev Accelerator IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- ₹73.12 crore will be utilised for capital expenditure on fit-outs in new centres and for security deposits of upcoming centres.
- ₹35.00 crore is planned for repayment and/or pre-payment of certain borrowings, including redemption of NCDs.
- A portion of the proceeds will be used for general corporate purposes to meet administrative and business expansion requirements.
- The balance amount will help strengthen the company’s financial position by supporting growth opportunities and reducing debt burden.
Dev Accelerator IPO Promoter Holding
The promoters of the company are Parth Shah, Umesh Uttamchandani, Rushit Shah, and Dev Information Technology Limited.
Share Holding Pre-Issue
49.80%
Share Holding Post Issue
36.80%
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, InvestExpert Academy does not take any liability for the genuineness and correctness of the information in this article.
