Dev Accelerator IPO Day 3: Issue Subscribed 22.36 Times So Far, GMP at 16.39%
Dev Accelerator IPO will be closing today, September 12, 2025, for public subscription. The public issue was fully subscribed within an hour of its opening on both Day 1 and Day 2. The allotment process for the Dev Accelerator IPO is expected to be finalised on September 15, 2025, and the company’s shares will be listed on both BSE and NSE. The tentative listing date is fixed as September 17, 2025.
Dev Accelerator IPO Day 3 Subscription Status
[September 12, 2025, 10:51 A.M]
On Day 3, the Dev Accelerator IPO saw a subscription of 22.36 times so far, as per the BSE data. The IPO was subscribed 77.60 times in the Retail Individual Investors (RII) category, 26.41 times in the Non-Institutional Investors (NII) category, 7.62 times in the Employee category, 2.41 times in the Qualified Institutional Buyers (QIB) category and 19.86 times in the Shareholders category.
Also Read: Dev Accelerator IPO Day 1 Subscription Status
Dev Accelerator IPO Day 2 Subscription Status
Dev Accelerator Ltd- IPO Details
Dev Accelerator IPO is a bookbuilding of ₹143.35 crores. The issue is entirely a fresh issue of 2.35 crore shares. The issue price band is set at ₹56 to ₹61 per share.
The minimum lot size for an application is 235, and the minimum investment amount required by a retail investor is ₹14,335 (235 shares) based on the upper price.
Pantomath Capital Advisors Pvt. Ltd. is the book running lead manager, and Kfin Technologies Ltd. is the registrar of the issue.
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Utilisation of Proceeds
The Company will utilise the net proceeds from the issue for the following purposes:
- Capital expenditure for fit-outs in the new Centres and for security deposits of the new Centres.
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company, including redemption of NCDs.
- General Corporate purposes.
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Dev Accelerator Ltd - GMP Details
According to InvestorGain, the Grey Market Potential (GMP) of Dev Accelerator Ltd stood at ₹10 as of September 12, 09:36 a.m. The estimated listing price is expected to be ₹71 based on the upper price band of ₹61. The expected percentage gain per share is 16.39%.
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Source: Investorgain Media Report dated September 12, 2025 Disclaimer: The GMP (Grey Market Premium) price is an unauthenticated market related news and has no discernible basis. The same quoted above is as per news appeared in the media report and is for information purposes only. The investor shall do their own study/research before using the same for taking any decision to invest. We neither engage in, trade, or deal in the grey market nor we recommend or endorse trading in the grey market. |
About Dev Accelerator Ltd
Dev Accelerator Ltd, incorporated in 2017 and promoted by Dev Information Technology Ltd, is one of India’s leading managed office space providers. The company offers a range of flexible workspace solutions, including managed offices, co-working spaces, and design & build services through its subsidiary Needle and Thread Designs LLP. It also extends allied services like payroll, IT/ITeS and facilities management via Saasjoy Solutions Pvt. Ltd.
As of May 2025, the company operates 28 centres across 11 Indian cities, managing more than 8.6 lakh sq. ft. of space with over 14,000 seats, and serving more than 250 clients. On the financial front, the company has shown strong growth with revenues rising from ₹30.9 crore in FY22 to ₹158.9 crore in FY25, while turning profitable with a Profit After Tax (PAT) of ₹1.7 crore in FY25.
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