Dev Accelerator came to market through an IPO that opened on 10 September 2025 and closed on 12 September 2025, and the shares listed on 17 September 2025 on BSE, NSE. The price band was ₹56 to ₹61 per share and one lot was 235 shares, so the minimum application was ₹14,335. The issue size was ₹143.35 crore. The whole issue was fresh shares, so the money raised went to the company.
Kfin Technologies Limited was the registrar to the issue, and Pantomath Capital Advisors Pvt Ltd was the lead manager.
As of 12 September 2025.
| Day |
|---|
| 1 |
| 2 |
| 3 |
Founded in 2017, Dev Accelerator Limited, popularly referred to as DevX, offers agile office space, including coworking areas. The firm has grown to have a presence in 15 centers in India, covering prominent cities like Delhi-NCR, Hyderabad, Mumbai, and Pune.The business model of the company is centered on offering flexible workspace solutions to meet the changing demands of contemporary businesses. This involves offering customizable suites and desks, catering to remote work trends, and flexible lease terms.
As of May 31, 2025, the company has more than 250 clients and operates 28 centres in 11 Indian cities with 14,144 seats spread over an aggregate area under management of 860,522 square feet.The company have executed Letters of Intent (LOIs) for three new centers, including the company's first overseas centre in Sydney, Australia. We have also rented space for a new center in Surat. These new centers will provide 11,500 seats in an overall area of 897,341 sq. ft.
Dev Accelerator Limited offer agile office space solutions, such as managed offices and coworking facilities, to large corporations, MNCs, and SMEs. The subsidiary company, Neddle and Thread Designs LLP, also provides design and execution services.
As described in the offer document.
| Metric | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
|---|
Dev Accelerator raises over Rs 63 crore from 11 anchor investors. Institutional investors invested in the anchor book on Tuesday included Universal Sompo General Insurance Company, Finavenue Capital Trust, Sunrise Investment Opportunities Fund, Meru Investment Fund, SB Opportunities Fund, Vbcube Ventures Fund, and Venus Stellar Fund.
Parth Shah, Umesh Uttamchandani, Rushit Shah, Dev Information Technology Limited. Promoter holding 49.80% before the issue and 36.80% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Dev Accelerator IPO was a ₹143.35 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹56–₹61 per share with a lot size of 235 shares (₹14,335). The IPO was open from September 10 to September 12, 2025 and was subscribed 63.97x. Shares listed on BSE and NSE on September 17, 2025 at ₹61, in line with the issue price of ₹61. Kfin Technologies Limited is the registrar.
Pantomath Capital Advisors Pvt Ltd is the book running lead manager.
The price band of Dev Accelerator IPO is ₹56 to ₹61 per share.
The lot size of Dev Accelerator IPO is 235 shares.
The minimum investment for Dev Accelerator IPO is approximately ₹14,335 based on the upper price band.
The allotment date of Dev Accelerator IPO is Sep 15, 2025.
Dev Accelerator IPO's final recorded GMP before listing was ₹1 per share (a 2% premium over the ₹61 upper price band). The shares listed at ₹61. GMP is unofficial and does not forecast or guarantee the actual listing price.
Dev Accelerator IPO listed on Sep 17, 2025. It was issued at ₹61.0(NSE) and is currently around ₹43.49 as on 2-Nov-2026 3:30 PM, which is approximately -28.7% versus issue price. The 52-week high is ₹50.28.
You can check Dev Accelerator IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Dev Accelerator IPO allotment status on Rupix for quick and easy access.
₹56 to ₹61 per share, against a face value of ₹2. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 235 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,335.
₹14,335, for one lot of 235 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 10 September 2025 and closed on 12 September 2025.
The basis of allotment was published on 15 September 2025 by Kfin Technologies Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 17 September 2025 on BSE, NSE.
The issue size was ₹143.35 crore. The fresh issue was 2,35,00,000 shares (aggregating up to ₹143.35 crore).