Dev Accelerator IPO opens on September 10: Check price band, lot size, objectives and key dates

Dev Accelerator IPO: The initial public offering of Dev Accelerator, which provides office space solutions under the DevX brand, will go live on September 10. The issue will conclude on September 12. The price band has been fixed at ₹56 to ₹61 per share.

The initial share sale, which aims to raise ₹143.35 crore, is a fresh issue of 2.35 crore shares. There is no offer for sale (OFS) component.

The objectives of the public offer include

• Capital expenditure for fit-outs in the proposed centres;
• Repayment of certain borrowings, including redemption of non-convertible debentures (NCDs) issued by the company;
• General corporate purposes

Dev Accelerator IPO: Lot size

An application size consists of at least 235 shares or one lot. The company has reserved 75% of the net offer for qualified institutional buyers, 15% for non-institutional investors (NIIs) and 10% for retail investors.

Dev Accelerator IPO timeline: Allotment and listing dates

Pantomath Capital Advisors Private Limited is the IPO's book-running lead manager, while KFin Technologies is the registrar.

About Dev Accelerator

Dev Accelerator is one of the largest flexible space operators in terms of operational flexible stock in tier-two markets, as per the JLL report. It has a presence in both Tier 1 and Tier 2 markets across the country, including regions like Delhi NCR, Mumbai, Pune, Ahmedabad, Hyderabad, Indore, Jaipur, Udaipur, Rajkot, Gandhinagar, and Vadodara.

As of May 2025, it has more than 250 clients and 28 centres across 11 cities, with 14,144 seats covering a total area under management (AUM) of SBA 860,522 square feet.

Dev Accelerator IPO GMP