
✓
Open
10 Sep 2025
✓
Close
12 Sep 2025
3
Allotment
—
✓
Listing
Wed, Sep 17, 2025
Price Band
₹56 to ₹61
Issue Size
2,35,00,000 shares (agg. up to ₹143 Cr)
Lot Size
235 Shares
Listing Date
Wed, Sep 17, 2025
Latest GMP
₹6
Est. Gain
9.84%
✦ AI Insight
GMP Trend
17-09-2025₹6Est. ₹67+9.84%
16-09-2025₹6Est. ₹67+9.84%
15-09-2025₹6Est. ₹67+9.84%
Live Subscription
| Category | Subscription (times) |
|---|---|
| Total | 35.82x |
Restated Financials (₹ Cr.)
| 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 Borrowing | 130.67 | 101.05 | 33.20 |
| Amount in ₹ Crore |
Peer Comparison
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Indiqube Spaces Ltd. | Mainboard | ₹700.00 Cr | ₹237 | null | ₹217.97 | -8.03% | ₹171.01 (-2.12%) |
| Smartworks Coworking Spaces Ltd. | Mainboard | ₹582.56 Cr | ₹407 | null | ₹445.05 | +9.35% | ₹463.85 (-0.52%) |
| International Gemmological Institute (India) Ltd. | Mainboard | ₹4,225.00 Cr | ₹417 | 50.98 | ₹471.15 | +12.99% | ₹350.45 (-0.79%) |
| Happy Square Outsourcing Services Ltd. | SME | ₹24.25 Cr | ₹76 | 10.83 | ₹80.85 | +6.38% | ₹42.20 (+4.84%) |
| Moving Media Entertainment Ltd. | SME | ₹43.40 Cr | ₹70 | 8.49 | ₹74.55 | +6.50% | ₹29.80 (-4.94%) |
| Icon Facilitators Ltd. | SME | ₹19.11 Cr | ₹91 | 11.72 | ₹85.50 | -6.04% | ₹69.00 (+2.83%) |
| Nukleus Office Solutions Ltd. | SME | ₹31.70 Cr | ₹234 | 52.33 | ₹196.55 | -16.00% | ₹221.70 (-0.54%) |
| Eleganz Interiors Ltd. | SME | ₹78.07 Cr | ₹130 | 17.67 | ₹116.05 | -10.73% | ₹94.20 (+0.16%) |
| Chamunda Electrical Ltd. | SME | ₹14.60 Cr | ₹50 | 16.59 | ₹66.50 | +33.00% | ₹43.15 (-3.58%) |
| EMA Partners India Ltd. | SME | ₹76.01 Cr | ₹124 | 15.56 | ₹148.70 | +19.92% | ₹83.00 (-0.48%) |
| Supreme Facility Management Ltd. | SME | ₹50.00 Cr | ₹76 | 18.7 | ₹71.25 | -6.25% | ₹23.50 (+0.00%) |
| Mangal Compusolution Ltd. | SME | ₹16.23 Cr | ₹45 | 11.66 | ₹42.75 | -5.00% | ₹45.03 (-2.11%) |
Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital expenditure for fit-outs in the new Centres and for security deposits of the new Centres. | 73.12 |
| 2 | Repayment and/or pre-payment, in full or part, of certain borrowings availed by Company including redemption of NCDs | 35.00 |
| 3 | General Corporate Purposes | 19.26 |
| 4 | Issue Expenses | 15.97 |
| Total | 143.35 |
About Dev Accelerator IPO
Established in 2017, Dev Accelerator Limited, commonly known as DevX, provides flexible office spaces, including coworking environments. The company has expanded its presence to 15 centers across India, encompassing major cities such as Delhi-NCR, Hyderabad, Mumbai, and Pune. The company's business model focuses on providing flexible workspace solutions tailored to the evolving needs of modern businesses. This includes offering customizable desks and suites, accommodating remote work trends, and providing flexible lease options. As of May 31, 2025, the company serves over 250 clients and has 28 centres across 11 cities in India, with 14,144 seats covering a total area under management of 860,522 square feet. The company have signed Letters of Intent (LOIs) for three new centers, including the company's first international centre in Sydney, Australia. Additionally, we have leased space for a new center in Surat. These upcoming centers will offer 11,500 seats across a total area of 897,341 sq. ft. Dev Accelerator Limited provide flexible office space solutions, including managed offices and coworking spaces, to large corporates, MNCs, and SMEs. The company's subsidiary, Neddle and Th
Contact Details
Dev Accelerator Ltd. AddressC-01, The First Commercial Complexbehind Keshavbaug Party PlotVastrapurAhmedabad, Gujarat, 3800157041482004compliance@devx.workVisit Website