Dev Accelerator IPO: GMP Rises To 16% Ahead Of Sept. 10 Launch, Check Key Details

Dev Accelerator Ltd. is scheduled to launch its initial public offering (IPO) this week to raise over Rs 143 crore from the primary market.

Dev Accelerator, commonly known as DevX, was founded in 2017 and offers flexible office solutions, including coworking spaces.

Here’s everything you need to know about the Dev Accelerator IPO, including its latest grey market premium, price band and offer size, ahead of the launch on Sept. 10.  

According to InvestorGain, the latest GMP for Dev Accelerator IPO stood at Rs 10 per share at 2:30 p.m. on Sept. 8. The GMP indicates an estimated listing price of Rs 71 per share, at a premium of 16.39%, compared to the upper limit of the IPO price band.  

On September 7, the GMP stood at Rs 9 per share, indicating a potential listing price of Rs 70, at a premium of 14.75% over the issue price.

Note: GMP is not an official source of data and is based on speculation.

Dev Accelerator IPO is a book-building issue worth Rs 143.35 crore, consisting entirely of a fresh issue of 2.35 crore equity shares. 

For retail investors, the minimum application size is a single lot, or 235 shares, amounting to an investment of at least Rs 14,335. Small High Net-Worth Individuals (S-HNIs) need to apply for at least 14 lots (3,290 shares), aggregating to an investment of Rs 2,00,690. Big HNIs should apply for a minimum of 70 lots (16,450 shares), worth Rs 10,03,450.

The price band for the Dev Accelerator IPO has been fixed at Rs 56 to Rs 61 per share.

The Qualified Institutional Buyers (QIBs) will be allocated 75% of the net issue, while Non-Institutional Investors’ (NIIs) quota will comprise 15% of shares. The company has proposed to reserve 10% for the retail segment.  

Pantomath Capital Advisors Pvt. Ltd. is acting as the book-running lead manager for the IPO, while Kfin Technologies Ltd. has been appointed as the registrar for the issue.

Dev Accelerator IPO will remain open for subscription from Sept. 10 to Sept. 12. The IPO share allotment status is likely to be finalised on Sept. 15. The company will initiate refunds and transfer of shares to the Demat accounts on Sept. 16.

Shares of Dev Accelerator Ltd. are expected to be listed on the BSE and NSE on Sept. 17.

The company has expanded to 15 centres across major Indian cities like Delhi-NCR, Hyderabad, Mumbai and Pune. Its business model caters to the dynamic workspace needs of modern enterprises. 

Through its IPO, Dev Accelerator Ltd. aims to raise funds primarily for capital expenditure of Rs 73.12 crore. Additionally, Rs 35 crore will be used for the repayment of borrowings. The remaining funds will be allocated towards general corporate purposes.

For the financial year ended March 31, 2025, Dev Accelerator Ltd. reported a 61% YoY rise in total income at Rs 179 crore, up from Rs 111 crore in the preceding fiscal. The company’s net profit rose to Rs 1.74 crore in FY25 from Rs 0.43 crore in FY24.