Skip to content

Allotment

Dev Accelerator Limited

Dev Accelerator Limited’s IPO was a book-built issue aggregating ₹143.35 crore. The issue comprised entirely of a fresh issue of 2.35 crore equity shares.

The IPO opened for subscription on September 10, 2025, and closed on September 12, 2025. The allotment was finalized on September 15, 2025, and the company’s shares were listed on both the BSE and NSE on September 17, 2025.

The price band for the IPO was fixed at ₹61 per share. The lot size for an application was 235 shares. Retail investors were required to invest a minimum of ₹14,335 for one lot (235 shares) at the upper price band. For non-institutional investors, the minimum application size for small NIIs (sNII) was 14 lots (3,290 shares), amounting to ₹2,00,690, while for big NIIs (bNII), it was 70 lots (16,450 shares), requiring an investment of ₹10,03,450.

Pantomath Capital Advisors Pvt. Ltd. acted as the Book Running Lead Manager for the IPO, while Kfin Technologies Ltd. served as the registrar to the issue.

Dev Accelerator Limited IPO & Charts
₹61

0%

Open

₹61

HIgh - Low

₹61

Previous Close

₹61

Total Traded Value

0

52 Weeks High

₹61

52 Weeks Low

₹61

Updates On

Sep 1, 2025

IPO. Open

Sep 10, 2026

IPO. Close

Sep 12, 2026

IPO. Price

₹61.00

IPO Market price

₹550.14 Cr

IPO Details

IPO Date 17 Sep
IPO Listing Date 17 Sep
IPO Face Value Rs.10 per Equity Share
IPO Price Range ₹61.00
IPO Issue Size 2,35,00,000 shares
IPO Sale Type Fresh Capital
Employee Discount -
IPO Issue Type 100% Book Building
IPO Listing BSE, NSE Platform
Share Holding Pre Issue 6,66,87,515 shares

IPO Timeline

IPO Open Date 10 Sep
IPO Close Date 12 Sep
IPO Allotment (Tentative) 15 Sep
Refunds 16 Sep
Credit to Demat Account 16 Sep
IPO Listing Date 17 Sep

IPO Reservation

Category Offer
QIB Shares Offered 69,01,950 Shares
NII (HNI) Shares Offered 34,50,975 Shares
Retail Shares Offered 23,00,650 Shares

IPO Lot Size

Investors can bid for a minimum of 235 shares, with additional shares to be purchased in multiples of 235.

Application Lots Share 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
About Company

Established in 2017, Dev Accelerator Limited, operating under the brand name DevX, is a provider of flexible office space solutions, including coworking and managed office environments. The company has built a strong presence across India, with centres in major cities such as Delhi-NCR, Hyderabad, Mumbai, and Pune.

DevX’s business model is focused on delivering flexible and scalable workspace solutions tailored to the evolving needs of modern enterprises. Its offerings include customizable workstations and private suites, support for hybrid and remote work models, and flexible lease tenures.

As of May 31, 2025, the company served more than 250 clients and operated 28 centres across 11 cities in India, offering 14,144 seats with a total area under management of 860,522 square feet.

The company has also signed Letters of Intent (LOIs) for three additional centres, including its first international centre in Sydney, Australia. Additionally, DevX has leased space for a new centre in Surat. These upcoming centres are expected to add approximately 11,500 seats across a total leasable area of 897,341 square feet.

Dev Accelerator Limited provides flexible office space solutions—such as managed offices and coworking spaces—to large corporates, multinational corporations (MNCs), and small and medium enterprises (SMEs). Its subsidiary, Neddle and Thread Designs LLP, complements these offerings by providing workspace design and execution services.

Dev Accelerator Ltd. reported a 62% increase in revenue and a 303% rise in profit after tax (PAT) for the financial year ended March 31, 2025, compared to the year ended March 31, 2024.

Company Financials (Consolidated)

Assets 540.38 411.09 282.42
Total Income 178.89 110.73 71.37
Profit After Tax 1.74 0.43 -12.83
EBITDA 80.46 64.74 29.88
NET Worth 54.79 28.79 1.22
Reserves and Surplus - - -
Total Borrowing 130.67 101.05 33.2

Key Performance Indicator (KPI)

ROE -
ROCE 25.95%
Debt/Equity 2.39
RoNW 3.24%
PAT Margin 1.00%
EBITDA Margin 50.64%
Price to Book Value 7.94
IPO Objective

IPO Objects of the Issue

S.No. Objects of the ipo Resources Detail IPO Amount
1 Funding capital expenditure requirements for the purchase of equipment/machineries -
2 To meet out the expenses of Working Capital Requirement -
3 To meet out the General Corporate Purposes; 19.26
4 Offer for Sale (OFS) -

Contact Details

Dev Accelerator Ltd. Address
C-01, The First Commercial Complex,
behind Keshavbaug Party Plot,
Vastrapur,
Ahmedabad, Gujarat, 380015
7041482004
compliance@devx.work
http://www.devx.work/

Detail Registrar

IPO Registrar

Kfin Technologies Ltd.
04067162222, 04079611000
dal.ipo@kfintech.com
https://ipostatus.kfintech.com/

FAQ

Compare:

Back To Top