The Dev Accelerator IPO allotment will be finalised today, September 15. Investors who applied can check whether they have been allotted shares through NSE, BSE or through the registrar, Kfin Technologies. Let’s take a look at the key factors to watch out for this IPO listing soon –
Dev Accelerator IPO: Subscription overview
The IPO was open for subscription from September 10 to September 12. Retail investors received a subscription rate of 164.72 times. On the other hand, non-institutional investors subscribed 87.97 times.
Qualified institutional buyers (QIBs) contributed a subscription of 20.30 times. On the final day, the overall subscription of Dev Accelerator stood at 63.97 times.
Dev Accelerator IPO: Refund and share credit schedule
Investors who do not receive shares will have their refunds processed on Tuesday, September 16. Those allotted shares will see them credited to their demat accounts on the same day. The listing of Dev Accelerator shares is scheduled for Wednesday, September 17.
Dev Accelerator IPO: How to check your IPO allotment status
Step 1: Check via BSE website
- Visit the BSE IPO allotment page.
- Select Equity as the issue type.
- Click Dev Accelerator IPO from the dropdown.
- Enter your application number or PAN details.
- Complete the captcha and click Search.
Step 2: Check via NSE website
- First go to the NSE IPO application tracking page.
- Click on Equity and SME IPO Bid Details.
- Select Dev Accelerator IPO.
- Enter your application number and PAN.
- Submit to view your allotment status.
Step 3: Check via Registrar website(Kfin Technologies)
- Go to ‘Kfin Technologies’ official website.
- Then select Dev Accelerator from the dropdown.
- Provide PAN, Application Number, DP ID/Client ID, or Bank Account Number details.
- Click Search to check your allotment.
Dev Accelerator IPO: Grey market premium (GMP)
The current GMP for Dev Accelerator IPO is Rs 8. The estimated listing price is Rs 69 per share which is around 13.11% higher than the issue price of Rs 61. However, this is not the official listing price as GMP fluctuate based on the market sentiment.
Dev Accelerator IPO: Fund utilisation and IPO details
The IPO involves the issuance of 2.35 crore equity shares, raising up to Rs 143.35 crore. The estimated market capitalisation at the upper price band is Rs 550 crore.
The company plans to use the proceeds for fit-outs of new centers and security deposits, repayment of existing debts, and general corporate activities, including marketing, brand-building, and managing lease liabilities.
Furthermore, the funds will also support expansion into major cities, including Mumbai, Gurugram, Noida, Pune, Chennai, GIFT City, Ahmedabad, Vadodara, Rajkot, Surat, Goa, and Jaipur.
Dev Accelerator IPO: Key players of the IPO
The lead manager of Dev Accelerator IPO is Pantomath Capital Advisors. Kfin Technologies serves as the registrar.