Dev Accelerator IPO Date, Review, Price, Allotment Details
The Dev Accelerator IPO is set to open on September 10, 2025, and will close on September 12, 2025. Launched as a Book Built Issue, the company plans to raise around ₹143.35 crores, entirely through a fresh issue of equity shares with a face value of ₹2 each.
The IPO price band has been fixed between ₹56 and ₹61 per share, with allocation divided as 10% for retail investors, 75% for QIBs, and 15% for HNIs. The allotment date is September 15, 2025, and the shares are expected to be listed on BSE and NSE on September 17, 2025.
From a financial standpoint, the company recorded a revenue of ₹178.89 crores in 2025, up from ₹110.72 crores in 2024, while net profit increased to ₹1.77 crores in 2025, compared with ₹0.44 crores in 2024. Given this performance, the IPO is suggested for investors looking for a long-term investment opportunity.
Dev Accelerator IPO Details
IPO Open Date: September 10, 2025 IPO Close Date: September 12, 2025 Face Value: ₹2 Per Equity Share IPO Price Band: ₹56 to ₹61 Per Share Issue Size: Approx ₹143.35 Crores Fresh Issue: Approx ₹143.35 Crores Issue Type: Book Built Issue IPO Listing: BSE & NSE DRHP Draft Prospectus 
Dev Accelerator IPO Market Lot
The Dev Accelerator IPO has a minimum lot size of 235 shares, requiring an application amount of ₹14,335. Retail investors can apply for up to 13 lots, totaling 3,055 shares for ₹1,86,355.
Application Lot Size Shares Amount Retail Minimum 1 235 ₹14,335 Retail Maximum 13 3,055 ₹1,86,355 S-HNI Minimum 14 3,290 ₹2,00,690 B-HNI Minimum 68 16,450 ₹10,03,450
IPO Reservation
Investor Category Share Offered QIB Shares Offered 75% of the Net Offer NII Shares Offered 15% of the Net Offer Retail Shares Offered 10% of the Net Offer
Dev Accelerator IPO Anchor Investors
Anchor Bidding Date September 9, 2025 Anchor Investors List Shares Offered [.] Shares Anchor Size [.] Cr. lock-in period end date 50% shares (30 Days) October 15, 2025 lock-in period end date 50% shares (90 Days) December 14, 2025
Dev Accelerator IPO Dates
The Dev Accelerator IPO will open on September 10 and close on September 12, with allotment scheduled for September 15 and listing on September 17.
IPO Open Date: September 10, 2025 IPO Close Date: September 12, 2025 Basis of Allotment: September 15, 2025 Refunds: September 16, 2025 Credit to Demat Account: September 16, 2025 IPO Listing Date: September 17, 2025 IPO Bidding Cut-off Time: September 12, 2025 – 5 PM
Promoters and Holding Pattern
The company’s promoters include Umesh Uttamchandani, Parth Shah, Rushit Shah, and Dev Information Technology Limited.
Particular Shares % Share Promoter Holding Pre-Issue 6,66,87,515 49.80% Promoter Holding Post Issue 9,01,87,515 36.80%
Objects of the Issue & Utilisation of Proceeds
Purpose Crores % Capital expenditure for fit-outs in the new Centres and for security deposits of the new Centres. 73.12 51.01% Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company, including redemption of NCDs 35.00 24.42% General corporate purposes – -%
About Dev Accelerator IPO
DEV Accelerator, founded in 2017, is a leading provider of flexible workspaces in India’s Tier 2 cities. The company specializes in creating fully managed, custom-designed office spaces tailored to business needs, and has established a presence across 15 locations. Its operations span Tier 1 cities like Delhi NCR, Hyderabad, Mumbai, and Pune, as well as Tier 2 cities including Ahmedabad, Gandhinagar, Indore, Jaipur, Udaipur, and Vadodara.
Since its inception, DEV Accelerator has been offering end-to-end office space solutions, including identifying suitable spaces, customizing layouts, constructing offices, and providing technology-enabled services. The company serves over 230 clients and operates 25 centers in 11 cities across India. As of August 31, 2024, it manages 12,691 seats covering a total area of 806,635 square feet.
Dev Accelerator IPO Company Financial Report
The company reported revenue of ₹178.89 crores in 2025 against ₹110.72 crores in 2024. The company reported a profit of ₹1.77 crores in 2025 against a profit of ₹0.44 crores in 2024.
Amount ₹ in Crores
Period Ended Revenue Expense PAT Assets 2022 ₹31.37 ₹39.51 ₹7.51 ₹100.80 2023 ₹71.37 ₹87.50 ₹12.83 ₹282.42 2024 ₹110.72 ₹119.50 ₹0.44 ₹411.09 2025 ₹178.89 ₹175.15 ₹1.77 ₹540.38
Dev Accelerator KPI – FY2025
Check Dev Accelerator IPO valuations detail like Earnings Per Share (EPS), Price/Earnings P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
KPI Values ROE: -% ROCE: 25.95% EBITDA Margin: 50.64% PAT Margin: 1.00% Debt to equity ratio: 2.39 Earning Per Share (EPS): ₹0.27 (Basic) Price/Earnings P/E Ratio: N/A Return on Net Worth (RoNW): 3.24% Net Asset Value (NAV): ₹7.68
Peer Group Comparison
Company EPS PE Ratio RoNW % NAV Income Awfis Space Solutions 9.75 60.95 14.78 64.71 1,207.54 Cr. Smartworks Coworking (6.18) (74.04) (58.56) 10.45 1,374.06 Cr. Indiqube Spaces (7.65) (28.69) NA (0.24) 1,059.29 Cr.
IPO Lead Managers aka Merchant Bankers
- Pantomath Capital Advisors Private Limited
IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
E-mail: dal.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Company Address
Dev Accelerator Limited
C-01, The First Commercial Complex,
behind Keshavbaug Party Plot,
Vastrapur, Ahmedabad, Gujarat – 380015, India
Phone: 7041482004
Email: compliance@devx.work
Website: http://www.devx.work/