Dev Accelerator's Rs 143.35-crore initial public offering (IPO) is receiving strong demand across investor categories. So far on Day 2 of the bidding, the office spaces provider's public issue has been subscribed nearly 14 times the shares on offer.
The issue, which opened on September 10, will close its subscription window on September 12.
Dev Accelerator IPO Subscription Status: Day 2
As of 3:00 PM on Day 2, The qualified institutional buyer (QIB) quota was booked 2.37 times, the non-institutional investor (NII) category received 12.74 times subscription, and the retail investor quota was subscribed 51.52 times. Employee quota and Shareholder quota, too, received 5.27 times and 10.76 times subscription, respectively.
Dev Accelerator IPO GMP Today
Dev Accelerator IPO is commanding a strong grey market premium (GMP) of Rs 7 over the issue price, according several websites that track grey market activities. The issue is being offered at Rs 56-61 per share. Retail investors are required to apply a minimum of Rs 14,335 per lot.
At the upper band of the issue price, Dev Accelerator's expected listing price comes at Rs 68 per share, translating into a listing premium of 11.48 per cent.
Dev Accelerator IPO Key Details
Dev Accelerator is a book-built issue and comprises entirely of fresh issue of 2.35 crore equity shares.
The book running lead manager of the issue is Pantomath Capital Advisors and the registrar is Kfin Technologies.
Up to 73.43 per cent of the issue is reserved for QIBs, 14.69 per cent for NIIs, 9.79 per cent for retail investors, 0.70 per cent for employees, and 1.40 per cent for shareholders of its parent company, Dev Information Technology.
Dev Accelerator IPO Anchor Investors
Ahead of the IPO subscription window opening, Dev Accelerator raised Rs 63.15 crore from anchor investors by allocating 1,03,52,925 equity shares at Rs 61 per share.
A total of 11 investors participated in the anchor round including Finavenue Capital Trust with an investment of Rs 10 crore, Sunrise Investment Opportunities Fund with an investment of Rs 7.15 crore, and VPK Global Ventures Fund - Scheme 1 with an investment of Rs 6 crore.
