Dev Accelerator IPO is all set to open its IPO subscription on September 10, and bidding will close on September 12. It is a Rs 143.35 crore book-built issue. The IPO is entirely a fresh issue of 2.35 crore shares. The company has kept the bidding in a range of Rs 56 -61 per equity share.
Dev Accelerator IPO: GMP
The share of Dev Accelerator was fetching a grey market premium of more than 16%, implying that the stock may list at around Rs 71 per equity share.
The grey market is an unofficial place where shares trade illegally ahead of listing. The investors keep an eye on GMP to track the listing gains.
Dev Accelerator IPO: Issue objective
The company will be mopping up funds from the primary markets and will be using the funds mainly for two purposes. The company will use the funds for capital expenditure for fit-outs in the new centres and for security deposits for the new centres. Secondly, the funds will go for the payment of certain borrowings availed by the company.
Dev Accelerator IPO: Allotment and listing
The allotment for the Dev Accelerator IPO is expected to be finalised on September 15. While the listing of the share on the exchanges, BSE and NSE, is estimated is likely to be on September 17, as per the tentative schedule.
Dev Accelerator IPO: Lot size
A retail applicant needs to bid for a minimum of 235 shares in a lot, summing up to Rs 14,335. The lot size investment for a small NII is 14 lots of 3,290 shares, amounting to Rs 2 lakh and for a big NII, it is 70 lots of 16,450 shares, aggregating up to Rs 10 lakh.
Dev Accelerator IPO: BRLM and registrar
Pantomath Capital Advisors Pvt. Ltd. is the book-running lead manager for the IPO, while Kfin Technologies Ltd. is working as the registrar for the issue.
About Dev Accelerator
Dev Accelerator provides flexible office spaces, including coworking environments. The company is commonly known as DevX. The company has expanded its presence to 15 centres across India, encompassing major cities like Delhi-NCR, Hyderabad, Mumbai, and Pune.
It has the option to customise desks and suites, accommodating remote work trends, and providing flexible lease options.
The company has served over 250 clients and has 28 centres across 11 cities in India, as of May 2025. The company is stepping into international markets and has signed Letters of Intent (LOIs) for three new centres, which include a centre in Sydney, Australia. Additionally, Dev Accelerator has leased space for a new centre in Surat.