Dev Accelerator IPO: Check GMP, Price Band, Lot Size Before Co-Working Company's Public Issue Opens

The subscription window for Dev Accelerator IPO (Dev Accelerator Ltd) is slated to open for bidding on September 10. Here's a look at the key details of the co-working space provider's initial public offering:

Dev Accelerator IPO: Offer Size and Price Band

Dev Accelerator IPO is worth Rs 143.35 crore. Dev Accelerator IPO comprises a fresh issuance of 23.5 million shares. The price band for Dev Accelerator IPO was set at Rs 56 to Rs 61 per share.

Dev Accelerator IPO: Category-wise Reservation

Not more than 75 per cent of Dev Accelerator IPO issue size has been reserved for the Qualified Institutional Buyer category. Up to 10 per cent of Dev Accelerator IPO issue size has been reserved for the retail category and 15 per cent of the issue size has been reserved for the Non-Institutional Investor (NII) category.

Dev Accelerator IPO GMP

The grey market premium for Dev Accelerator shares ranged between Rs 6 and Rs 9 on September 7, as per the websites that monitor the demand trends for shares of unlisted companies. Considering the GMP of Rs 9, Dev Accelerator shares are expected to make a debut with a decent premium of over 14.75 per cent at Rs 70 per share.

Dev Accelerator  IPO: Lot Size and Minimum Investment

Retail investors interested in applying for Dev Accelerator IPO can place bids for a minimum of 145 shares, which aggregates to an investment of Rs 14,335.

Dev Accelerator IPO: Subscription window, listing date, allotment date

Dev Accelerator IPO bidding window opened on September 10. Dev Accelerator IPO bidding window is scheduled to close on September 12. The basis of allotment of Dev Accelerator IPO will be decided on September 15. After the basis of allotment for Dev Accelerator IPO is decided the flexible co-working space provider will initiate refunds for unsuccessful applicants on September 16. Successful bidders will receive shares of Dev Accelerator in their demat accounts on September 16 as well. Dev Accelerator's shares will make their D-street debut on the NSE and BSE. The Dev Accelerator Ltd shares are slated to debut on NSE and BSE on September 17.

Dev Accelerator: Key financials

Dev Accelerator's total income for FY25 grew to Rs 178.89 crore, increasing by over 35 per cent from Rs 110.73 crore in FY24. The co-working space provider's profit-after-tax was Rs 1.74 crore in FY25, growing from Rs 43 lakh in the preceding fiscal. Dev Accelerator's net worth increased by nearly 90 per cent to Rs 54.79 crore in FY25 compared to Rs 28.79 crore in FY24.

Dev Accelerator IPO: Registrar

Dev Accelerator IPO book running lead manager is Pantomath Capital Advisors Pvt.Ltd, and the registrar for the issue is Kfin Technologies Pvt Ltd.

Dev Accelerator: Promoters

Promoters of Dev Accelerator include Parth Shah, Umesh Uttamchandani, Rushit Shah and Dev Information Technology Ltd the promoters collectively held 49.8 per cent stake in the company prior to the issue. After the issue the stake of the promoters in the company will reduce to 36.8 per cent.

Dev Accelerator IPO: Objective

Dev Accelerator aims to use the money raised via the public issue for expenditure on fit-outs at its new centres and for making security deposits for the new centres. The funds raised by Dev Accelerator will also be used to repay the co-working company's borrowings. The funds will also be used for general corporate purposes by Dev Accelerator.

About Dev Accelerator Ltd

Dev Accelerator Ltd (DevX) is a provider of flexible office spaces and co-working spaces. The company has 15 centers spread across Indian cities like Delhi-NCR, Hyderabad, Mumbai, and Pune.