
3.21x
subscribed
Dev Accelerator IPO
3.21x
subscribed
About Dev Accelerator Limited
Dev Accelerator Limited IPO Overview
Dev Accelerator Limited IPO date
Dev Accelerator Limited IPO will open for subscription on September 10, 2025, and the closing date for the IPO is September 12, 2025. After this, investors are expected to be updated about the allotment status on September 15, 2025.
Investors who have been allotted shares can expect them to be credited to their demat account on September 16, 2025. The shares will be listed on the NSE and the BSE on Wednesday, September 17, 2025.
Dev Accelerator Limited IPO price band
The IPO includes a fresh issue of shares. The IPO price band has been set between ₹56 to ₹61 per share. Interested investors can choose a price within this band to apply for the IPO. The IPO is a book-building issue, comprising a fresh issue of ₹143.35 crore only.
Dev Accelerator Limited's IPO listing price will be determined on September 17, 2025. The listing price is the price at which a company’s shares debut on the stock exchanges.
Dev Accelerator Limited IPO lot size
The IPO details of Dev Accelerator Limited have been announced. The minimum lot size for an application is 235 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹ 143.35 crore.
Checklist
Objectives
Strength and Weakness
The company is one of the largest managed space operators in Tier 2 markets, with nearly 0.6 million sq. ft. operational footprint, over 9,000 seats, and an average occupancy of 88%. Flexible workspace stock in Tier-2 cities has nearly tripled since 2021, supported by expanding talent pools and improved infrastructure. The company’s strong Tier 2 positioning enables it to capitalise on this growing demand.
Operations span 11 cities, including 4 of the top 7 Tier 1 markets, with 860,522 sq. ft. under management. Occupancy rates have been consistently high at 87.61% in FY25, 83.09% in FY24, and 80.85% in FY23.
The company offers customisable office spaces with zero capex, delivered within 90–120 days, and backed by ISO 9001:2015 and ISO 27001:2022 certifications. As of May 31, 2025, it served 250+ clients, including QX Global, Paperchase, Zomato, and Wipfli, with the top 10 and top 20 clients contributing 38.58% and 54.13% of revenues in FY25.
Revenue from operations grew at a CAGR of 50.75% from ₹69.91 crore in FY23 to ₹158.88 crore in FY25, while EBITDA margins remained strong at 50–60%. The company also turned profitable, reporting a net profit of ₹1.77 crore in FY25 versus a loss in FY23.
The company employs multiple asset procurement models, including straight lease (75% of centres), furnished by landlords (21.43% of centres), revenue share, and the newer OpCo-PropCo model, providing flexibility in expansion and cost structure. Strategic investment in Janak Urja Private Limited (43.69% stake) with indirect exposure to Ausil Enterprise Private Limited (AEPL) strengthens access to real estate projects and long-term growth.
About Dev Accelerator Limited
IPO Subscription Status
Latest News on IPO
Frequently asked questions
How to invest in the IPO?
What is the issue size of Dev Accelerator IPO ?
What is 'pre-apply' for Dev Accelerator IPO ?
Which exchanges will Dev Accelerator IPO shares list on?
- Pre-apply8 Sep 2025
- Bidding starts10 Sep 2025
- Bidding ends12 Sep 2025
- Allotment finalisation15 Sep 2025
- Release of funds16 Sep 2025
- Demat transfer16 Sep 2025
- Listing17 Sep 2025