Dev Accelerator IPO Details
The Dev Accelerator IPO is a book build issue with a total issue size of ₹143.35 cr, comprising of fresh issue of 23500000 equity shares. Dev Accelerator IPO opened for subscription on Sep 10, 2025 and closed on Sep 12, 2025. Dev Accelerator IPO is set price band at ₹56 to ₹61 per share, with a lot size of 235 shares. Minimum investment for Retail investors was ₹14,335.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Sep 15, 2025, and listed on both the NSE and BSE on Sep 17, 2025.
Kfin Technologies Limited has been appointed as the registrar. Pantomath Capital Advisors Pvt Ltd are the Book Running Lead Manager for the issue.
Before investing in the Dev Accelerator IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 56 – 61
- Lot Size
- 235
- Issue Size
- ₹143.35 Cr
- Minimum Investment
- ₹14335 (235 Shares)
- Listing Date
- 17 September 2025
Current GMP
₹6 (+9.84%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
About Dev Accelerator Limited
Established in 2017, Dev Accelerator Limited (DevX) is one of India’s leading providers of flexible office space solutions, including managed office spaces and coworking environments. With a rapidly growing presence, the company has expanded from a single location to 28 operational centers across 11 cities in India as of May 31, 2025, offering 14,144 seats across 860,522 sq. ft. of managed space.
Business Overview
DevX’s core offering revolves around providing flexible, customizable workspaces tailored to the evolving needs of corporates, MNCs, and SMEs. Their service portfolio includes:
- Managed Office Spaces: Tailored for large enterprises (100–500+ seats), these spaces are custom-designed and fully managed by DevX.
- Coworking Spaces: Ready-to-use shared workspaces ideal for freelancers, startups, and remote teams.
- Design & Execution Services: Through its subsidiary Neddle and Thread Designs LLP, DevX offers interior design and build services for both its own centers and external client offices.
- Facility & Payroll Management: Includes end-to-end employee management, housekeeping, security, and IT support.
- IT/ITeS Services: Offered via Saasjoy Solutions Pvt. Ltd., covering software development, cloud services, data analytics, and digital marketing.
Growth and Expansion
- As of May 2025, DevX has served over 250 clients, including major names like Zomato, Wipfli India LLP, and QX Global Services.
- The company is expanding with LOIs signed for three new centers, including its first international center in Sydney, Australia, and a new center in Surat.
- The upcoming centers will add 11,500 seats across 897,341 sq. ft., with plans to establish 8 more centers over the next two fiscals, including Tier 1 and Tier 2 cities and international locations.
Market Position & Strengths
- Tier 2 Market Leadership: DevX is among the largest managed office space operators in Tier 2 cities, with strong presence in Ahmedabad, Indore, Jaipur, Udaipur, Gandhinagar, Rajkot, and Vadodara.
- High Occupancy Rates: The company maintains 87.19% occupancy across its centers (as of May 2025), reflecting strong demand and customer satisfaction.
- Pan-India Reach: Present in 11 cities, including major metros like Mumbai, Pune, Hyderabad, and Delhi-NCR, while also dominating Tier 2 regions.
- Strong Financial Performance:
- FY 2025: ₹933.75 million from managed office solutions
- FY 2024: ₹740.35 million
- FY 2023: ₹353.14 million
Dev Accelerator IPO Promoters
- Parth Shah
- Umesh Uttamchandani
- Rushit Shah
- Dev Information Technology Limited
Promoters Holding
Holding Pre Issue
49.80%
Holding Post Issue
36.81%
Dev Accelerator IPO Objective
The Company Dev Accelerator IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Capital expenditure for fit-outs in the new Centres and for security deposits of the new Centres.
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company including redemption of NCDs
- General corporate purposes
Address / Contact Info
Dev Accelerator Limited
C-01, The First Commercial Complex,
behind Keshavbaug Party Plot,
Vastrapur,
Ahmedabad, Gujarat, 380015
Phone: 7041482004
Email: compliance@devx.work
Website: http://www.devx.work/
IPO Snapshot
Book Running Lead Managers
- Pantomath Capital Advisors Pvt Ltd
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Dev Accelerator IPO is a Book-building IPO with a total issue size of ₹143.35 crore. The Dev Accelerator IPO price band is ₹56 to 61 per share. The Dev Accelerator IPO subscription opens on Wed, Sep 10, 2025, and closes on Fri, Sep 12, 2025. The Dev Accelerator IPO will be listed on the BSE,NSE. Kfin Technologies Limited is the registrar for the Dev Accelerator IPO.
The Dev Accelerator IPO opens on Wed, Sep 10, 2025 and closes on Fri, Sep 12, 2025
Dev Accelerator IPO Price Band is ₹56 to 61 per share.
Dev Accelerator IPO lot size is 235 shares, Retail investors need a minimum investment of ₹14335 based on the upper price band
The minimum investment for Dev Accelerator IPO is ₹14335, based on one lot of 235 shares at the upper price band of ₹61 per share.
Investors can apply for the Dev Accelerator IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Sep 12, 2025. The application amount remains blocked until the Dev Accelerator IPO allotment is finalized.
Dev Accelerator IPO issue size is ₹143.35 crores.
Dev Accelerator IPO allotment date is Wed, Jul 1, 2026.
The registrar for Dev Accelerator IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website to check Dev Accelerator IPO allotment status, refund processing, and other IPO-related information.
The Dev Accelerator IPO GMP (Grey Market Premium) is ₹6 as of Wed, Sep 17, 2025. Based on the upper price band of ₹61 per share, the estimated Dev Accelerator IPO listing price is ₹67, indicating a potential listing gain of approximately 0% over the issue price.