Dev Accelerator IPO opened for subscription on Tuesday, September 10, 2025, and will close on Friday, September 12, 2025. The price band is set at ₹61 per share with a face value of ₹10.

Dev Accelerator IPO Subscription Status

Dev Accelerator IPO was subscribed over 16.11x on its second day till 5:00 PM on 11 September 2025.

Breakdown of bids by category:

• Qualified Institutional Buyers (QIB): 2.40x
• Non-Institutional Investors (NII): 15.36x
• Retail Individual Investors (RII): 59.48x

The IPO received total bids for 21,18,11,375 shares against an issue size of 1,31,47,075 shares by the end of Day 2.

• Day 2 subscription: 16.11x
• Day 1 subscription: 5.34x

About Dev Accelerator Limited

Founded in 2017, Dev Accelerator Limited is among India’s prominent flexible workspace providers, focusing on Tier-2 cities while maintaining a strong presence in Tier-1 metros. The company specializes in designing and delivering fully managed, custom-built office workspaces tailored to diverse business needs.

• Operations cover 15 strategic locations, including Delhi NCR, Hyderabad, Mumbai, Pune (Tier-1) and Ahmedabad, Gandhinagar, Indore, Jaipur, Udaipur, Vadodara (Tier-2).
• Services include office space identification, customized design and build, technology integration, and ongoing management solutions.
• Client base exceeds 230 businesses, supported by 25 centers across 11 cities.
• As of August 31, 2024, the company managed 12,691 seats spanning approximately 806,635 sq. ft. of workspace.
• The company is actively exploring expansion into emerging startup hubs and investing in AI-driven workspace management tools to enhance efficiency.

Financial Performance

• Revenue: ₹178.89 crores (FY 2025) vs ₹110.72 crores (FY 2024)
• Net Profit: ₹1.77 crores (FY 2025) vs ₹0.44 crores (FY 2024)
• The company has also maintained a healthy occupancy rate above 85%, indicating strong demand across locations.

Dev Accelerator IPO GMP

As of Thursday, 11 September 2025, the Grey Market Premium (GMP) stood at ₹10, implying that the IPO was trading around ₹71 per share in the grey market—a ₹10 premium over the issue price of ₹61. Market observers noted a steady rise in grey market activity, hinting at robust investor interest.