Established in 2017, Dev Accelerator (DevX) provides managed and coworking office spaces with flexible leases, customizable desks, and suites across major Indian cities. As of May 31, 2025, the network spans 28 centres in 11 cities, serving 250+ clients with more than 14,000 seats and over 8.6 lakh sq ft under management; additional centres are planned, including an international site in Sydney.
IPO Window
Sep 10 – Sep 12, 2025
Listing Date
Sep 17, 2025
Lot Size
235 shares ₹14,335 (Retail)
Issue Size
₹143.35 crore (Fresh)
Dev Accelerator (DevX) is launching a mainboard IPO of up to ₹143.35 crore by issuing 2.35 crore fresh equity shares. The offer opens on September 10, 2025 and closes on September 12, 2025, with allotment expected on September 15 and listing proposed on BSE and NSE on September 17, 2025. The price band is ₹56 to ₹61 per share; the minimum retail application is 1 lot of 235 shares for ₹14,335.
| Face Value | ₹2 per share |
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| Issue Price Band | ₹56 to ₹61 per share |
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| Offer Structure | Fresh Capital (100%) |
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| Total Shares | 2,35,00,000 shares (aggregating up to ₹143.35 crore) |
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| Issue Type | Book‑building IPO |
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| Listing | BSE, NSE |
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| Shareholding (Pre / Post) | 6,66,87,515 / 9,01,87,515 shares |
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| Lead Manager | Pantomath Capital Advisors Pvt. Ltd. |
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| Registrar | Kfin Technologies Ltd. |
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| Investor Category | Reservation |
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| QIB | Not less than 75% of the Issue |
| NII | Not more than 15% of the Issue |
| Retail | Not more than 10% of the Issue |
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| Application Category | Maximum Bidding Limits | Bid at Cut‑off Allowed |
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| Only RII | Up to ₹2 lakhs | Yes |
| Only sNII | ₹2 lakhs to ₹10 lakhs | No |
| Only bNII | ₹10 lakhs to NII reservation portion | No |
| Only Employee | Up to ₹5 lakhs | Yes |
| Only Shareholder | Up to ₹2 lakhs | Yes (up to ₹2 lakhs) |
| Employee + Shareholder + RII/NII | Employee up to ₹5 lakhs; Shareholder up to ₹2 lakhs; RII up to ₹2 lakhs; sNII >₹2–₹10 lakhs; bNII >₹10 lakhs | Yes for all applicable categories |
| IPO Open | Wed, Sep 10, 2025 |
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| IPO Close | Fri, Sep 12, 2025 |
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| Allotment (Tentative) | Mon, Sep 15, 2025 |
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| Refunds Initiation | Tue, Sep 16, 2025 |
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| Credit to Demat | Tue, Sep 16, 2025 |
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| Listing (Tentative) | Wed, Sep 17, 2025 |
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| UPI Mandate Cut‑off | 5 PM on Sep 12, 2025 |
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| Application | Lots | Shares | Amount |
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| Retail (Min) | 1 | 235 | ₹14,335 |
| Retail (Max) | 13 | 3,055 | ₹1,86,355 |
| S‑HNI (Min) | 14 | 3,290 | ₹2,00,690 |
| S‑HNI (Max) | 69 | 16,215 | ₹9,89,115 |
| B‑HNI (Min) | 70 | 16,450 | ₹10,03,450 |
Established in 2017, Dev Accelerator (DevX) provides managed and coworking office spaces with flexible leases, customizable desks, and suites across major Indian cities. As of May 31, 2025, the network spans 28 centres in 11 cities, serving 250+ clients with more than 14,000 seats and over 8.6 lakh sq ft under management; additional centres are planned, including an international site in Sydney.
Summary (₹ crore)
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 540.38 | 411.09 | 282.42 |
| Total Income | 178.89 | 110.73 | 71.37 |
| Profit After Tax | 1.74 | 0.43 | -12.83 |
| EBITDA | 80.46 | 64.74 | 29.88 |
| Net Worth | 54.79 | 28.79 | 1.22 |
| Total Borrowings | 130.67 | 101.05 | 33.20 |
Source: RHP‑aligned press summaries and trackers confirming band, lot size, dates, allocation, and financial summary; cross‑checked with business press coverage. For final audited values, rely on the SEBI‑hosted RHP.
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