Dev Accelerator IPO
IPO Listing Details
- Listing Date
17 Sep 2025
- Listing Price
₹61.30
- Listing Change
0.49%
- Last Traded Price
₹43.88
Dev Accelerator IPO Details
-
Open Date
10 Sep 2025
-
Close Date
12 Sep 2025
-
Listing Date
17 Sep 2025
- IPO Price Range
₹ 56 to ₹61
- IPO Size
₹ 143.35 Cr
- Listing Exchange
BSE NSE
Dev Accelerator IPO Timeline
Dev Accelerator IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 10-Sep-25 | 1.16 | 4.46 | 19.60 | 5.34 |
| 11-Sep-25 | 2.40 | 15.36 | 59.48 | 16.11 |
| 12-Sep-25 | 20.30 | 87.97 | 164.89 | 64.00 |
Last Updated: 06 October 2025 3:01 PM by 5paisa
Dev Accelerator Limited, launching a ₹143.35 Cr IPO, is a leading provider of flexible office spaces, including coworking and managed offices, catering to corporates, MNCs, and SMEs. With 28 centres across 11 Indian cities and 14,144 seats over 860,522 sq. ft. as of May 2025, it serves 250+ clients. Expansion plans include new centres in Surat and Sydney, adding 11,500 seats. Its subsidiary, Neddle and Thread Designs LLP, delivers design and execution services.
Established in: 2017
Managing Director: Mr. Umesh Satishkumar Uttamchandani
Peers:
| Name of the company | Dev Acclerator Limited | Awfis Space Solutions Ltd | Smartworks Coworking Spaces Limited | Indiqube Spaces Limited |
| Market Price Per equity share | [●] | 589.35 | 457.55 | 219.38 |
| Revenue from operations ( ₹ in CR) | 158.89 | 1207.54 | 1374.06 | 1059.29 |
| Basis EPS | 0.27 | 9.75 | -6.18 | -7.56 |
| Diluted EPS | 0.27 | 9.67 | -6.18 | -7.65 |
| RoNW(%) | 3.24 | 14.78 | -58.56 | NA |
| P/E Ratio | [●] | 60.95 | -74.04 | -28.69 |
| Net Worth (₹ in Cr) | 54.79 | 459.22 | 107.89 | -3.11 |
| NAV per share | 7.68 | 64.71 | 10.45 | -0.24 |
| Face Value | 2.00 | 10.00 | 10.00 | 1.00 |
Dev Accelerator Objectives
The company will use ₹73.12 crore for fit-outs.
₹35.00 crore will repay or pre-pay existing borrowings.
Remaining funds will support general corporate purpose needs.
Dev Accelerator IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹143.35 Cr |
| Offer For Sale | - |
| Fresh Issue | ₹143.35 Cr |
Dev Accelerator IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 235 | 13,160 |
| Retail (Max) | 13 | 3,055 | 1,71,080 |
| S-HNI (Min) | 14 | 3,290 | 1,84,240 |
| S-HNI (MAX) | 69 | 16,215 | 9,08,040 |
| B-HNI (Min) | 70 | 16,450 | 9,21,200 |
Dev Accelerator IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB | 20.30 | 69,01,950 | 14,01,34,965 | 854.82 |
| NII (HNI) | 87.97 | 34,50,975 | 30,35,69,005 | 1,851.77 |
| bNII (bids above ₹10L) | 78.94 | 23,00,650 | 18,16,20,690 | 1,107.89 |
| sNII (bids below ₹10L) | 106.01 | 11,50,325 | 12,19,48,315 | 743.88 |
| Retail | 164.89 | 23,00,650 | 37,93,52,040 | 2,314.05 |
| Total** | 64.00 | 1,31,47,075 | 84,14,01,990 | 5,132.55 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (in Rs. Crores) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 69.91 | 108.09 | 158.88 |
| EBITDA | 29.88 | 64.74 | 80.46 |
| PAT | -12.83 | 0.44 | 1.74 |
| Particulars (in Rs. Crores)] | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Assets | 282.42 | 411.09 | 540.38 |
| Share Capital | 3.59 | 3.59 | 16.91 |
| Total Borrowings | 33.20 | 101.05 | 130.67 |
| Particulars (in Rs. Crores | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 26.48 | 7.56 | 93.75 |
| Net Cash Generated From / (used in) investing activities | -24.06 | -40.86 | -38.01 |
| Net Cash Generated From / (used in) financing activities | -3.66 | 33.30 | -52.92 |
| Net Increase (Decrease) In Cash And Cash Equivalents | -1.24 | -0.00 | 2.82 |
Strengths
1. Strong presence with 28 centres across India.
2. Flexible workspace solutions tailored for modern businesses.
3. Trusted by over 250 corporate and SME clients.
4. Subsidiary offers in-house design and execution services.
Weaknesses
1. High dependence on leased office space models.
2. Expansion may strain resources and operational efficiency.
3. Limited international presence compared to global peers.
4. Vulnerable to fluctuations in commercial real estate demand.
Opportunities
1. Growing demand for coworking in tier-2 cities.
2. Expansion into international markets like Sydney, Australia.
3. Rising hybrid work culture boosting flexible workspace needs.
4. Partnerships with corporates for long-term managed office solutions.
Threats
1. Intense competition from global coworking space providers.
2. Economic slowdown may reduce demand for office spaces.
3. Rising rental costs could impact profitability margins.
4. Regulatory changes affecting commercial property lease structures.
1. Strong presence with 28 centres across major cities.
2. Diversified client base of 250+ corporates and SMEs.
3. Planned international expansion starting with Sydney, Australia
4. Growing demand for flexible and managed office solutions.
India’s flexible workspace industry is witnessing rapid growth, driven by rising demand from corporates, SMEs, and start-ups embracing hybrid work models. With 28 centres across 11 cities, Dev Accelerator Limited is well positioned to capture this momentum. The company’s expansion into international markets like Sydney and its increasing client base highlight strong growth potential, supported by scalable operations and a focus on design-led, customised workspace solutions.
Open Free Demat Account
Be a part of 5paisa community - The first listed discount broker of India.
By proceeding, you agree to all T&C*
FAQs
Dev Accelerator IPO opens from September 10, 2025 to September 12, 2025.
The size of Dev Accelerator IPO is ₹143.35 Cr.
The price band of Dev Accelerator IPO is fixed at ₹56 to ₹61 per share.
To apply for Dev Accelerator IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Dev Accelerator IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Dev Accelerator IPO is of 235 shares and the investment required is ₹14,335.
The share allotment date of Dev Accelerator IPO is September 15, 2025.
The Dev Accelerator IPO will likely be listed on September 17, 2025.
Pantomath Capital Advisors Pvt.Ltd is the book running lead manager for Dev Accelerator IPO.
Dev Accelerator plans to utilise the raised capital from the IPO for:
● The company will use ₹73.12 crore for fit-outs.
● ₹35.00 crore will repay or pre-pay existing borrowings.
● Remaining funds will support general corporate purpose needs.
Dev Accelerator Contact Details
C-01, The First Commercial Complex,
behind Keshavbaug Party Plot,
Vastrapur,
Ahmedabad, Gujarat, 380015
Phone: 7041482004
Email: compliance@devx.work
Website: https://www.devx.work/
Dev Accelerator IPO Register
Pantomath Capital Advisors Pvt.Ltd
Dev Accelerator IPO Lead Manager
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: dal.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
