The coworking environments company Dev Accelerator IPO will be hit the market September 10, 2025 and closes on September 12, 2025. The Company has filed the RHP of this IPO. According to DRHP, the company wants to raise ₹143.35 crore through IPO. The company will issue fresh shares of ₹143.35 crores.
Established in 2017, Dev Accelerator Limited, widely known as DevX, is a fast-growing provider of flexible office space solutions, catering to the evolving needs of modern businesses. Headquartered in India, the company specializes in offering coworking spaces, managed offices, and customizable work environments, enabling organizations to adapt quickly to changing workplace trends such as remote work and flexible leasing. You can check Dev Accelerator IPO GMP here.
Over the years, DevX has built a strong presence across major Indian business hubs. As of May 31, 2025, the company operates 28 centers across 11 cities, including Delhi-NCR, Mumbai, Pune, and Hyderabad, with a total capacity of 14,144 seats spanning 860,522 square feet. Its client base has grown steadily, now serving over 250 corporates, MNCs, and SMEs, who rely on DevX for scalable and cost-efficient workspace solutions.
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The company has already signed Letters of Intent (LOIs) for three new centers, including its first international center in Sydney, Australia, and a new facility in Surat, India. These upcoming projects will add 11,500 seats and increase its managed area to 897,341 square feet, further strengthening its position as a leading flexible workspace provider. You can check Dev Accelerator IPO subscription status here.
Object Of the Issue :
- 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 our Company including redemption of NCDs.
- General corporate purposes.
Company Strengths :
- Strong and diverse existing portfolio base.
- Established track record, favourable national policy support and visibility for future growth.
- Reliable cash flow supported by long-term O&M contracts with high credit quality counterparties.
- Supported and promoted by our parent company, IWL.
- Established supply chain in place.
- Strong and experienced management team.
Dev Accelerator IPO Review :
| Details | Valuation |
| PAT : Issue Price : EPS : PE Ratio : ROE : RoNW : ROCE : Debt/Equity : NAV Value : Total Assets : Market Cap : Pre Holding : Post Holding : | ₹178.89 Cr ₹61 /EQ 0.27 233.25x 3.24 % 3.24 % 25.95 % 2.39 ₹7.68 ₹540.38 Cr ₹550.14 Cr 49.80 % 36.80 % |
| Team Review : | ✔ Apply for Long Term |
👉 Dev Accelerator IPO Show Review ….👈
- ■ The company is one of the largest flex space operators in major metros and Tier-1, Tier-II cities.
- ■ The company operating in a highly competitive and fragmented segment.
- ■ The company top & bottom line posted weakness reported in FY24.
- ■ The PE ratio of the company is costly.
- ■ The company Issue price is slightly aggressive based on the PE ratio.
- ■ Based on FY25 the Investors can bid the long term with own suitable risk.
Dev Accelerator IPO Date, Price & Details :
| IPO Open : | September 10, 2025 |
| IPO Close : | September 12, 2025 |
| Issue Type : | Book Building Issue |
| Face Value : | ₹2 Equity Share |
| Price Band : | ₹56 – ₹61 Per Share |
| Listing On : | BSE, NSE |
| Issue Size : | ₹143.35 Cr {2,35,00,000 Shares} |
| Fresh Issue : | ₹143.35 Cr {2,35,00,000 Shares} |
| Reserved Quota : | [QIB: 75%] [NII: 15%] [RII: 10%] |
Dev Accelerator IPO Market Lot :
Dev Accelerator IPO Minimum Market lot is 1 Lot with 235 shares with ₹14,335 Application amount. The retail investors can apply up to 13 lots with 3055 Shares or ₹1,86,355 amounts.
| Application | Lot | Shares | Amount Cr |
| Retail Minimum : | 1 | 235 | ₹14,335 |
| Retail Maximum : | 13 | 3,055 | ₹1,86,355 |
| S-HNI Minimum : | 14 | 3,290 | ₹200,690 |
| S-HNI Maximum : | 69 | 16,215 | ₹9,89,115 |
| B- HNI Minimum : | 70 | 16,450 | ₹10,03,450 |
Dev Accelerator IPO EPS & RoNW :
| Year | EPS (₹) | RoNW % | NAV (₹) |
| 2025 | 0.27 | 3.24 | 7.68 |
| 2024 | 0.08 | 1.52 | 4.10 |
| 2023 | -2.55 | -1049.52 | -0.43 |
Dev Accelerator IPO Peer Comparison PE :
| Company | PE | EPS | RONW | NAV |
| Awfis Space Solution | 60.95 | 9.75 | 14.58 | 64.71 |
| Smartworks Coworking Spaces | -74.04 | -6.78 | -58.56 | 10.45 |
| Indiqube Spaces | -28.69 | -7.65 | N/A | -0.71 |
Dev Accelerator IPO Dates :
| Open Date : | September 10, 2025 |
| Close Date : | September 12, 2025 |
| Allotment Date : | September 15, 2025 |
| Refund Date : | September 16, 2025 |
| Share Credit Date : | September 16, 2025 |
| Listing Date : | September 17, 2025 |
Dev Accelerator IPO Form :
You can apply through ASBA available in your bank account. Log in to your bank’s online portal, go to the IPO section, and select Dev Accelerator IPO. You can also apply through an IPO form available on NSE and BSE websites. Download the form, fill it out, and submit it to your bank or broker.
Dev Accelerator Company Financial Report (Cr) :
| Year | Revenue (₹) | Expense (₹) | PAT (₹) |
| 2025 | 178.89 | 175.15 | 1.74 |
| 2024 | 110.73 | 119.50 | 0.43 |
| 2023 | 71.37 | 87.50 | -12.83 |
Company Promoters :
■ Parth Naimeshbhai Shah
Quick Link :
■ DRHP Draft Prospectus
■ RHP Draft Prospectus
■ Anchor Investor
Dev Accelerator IPO Lead Managers :
■ Pantomath Capital Advisors Pvt.Ltd.
Dev Accelerator IPO Registrar :
KFIN Technologies Limited
Selenium Tower-B, Plot No. 31 & 32,
Gachibowli, Financial District,
Nanakramguda, Serilingampally,
Hyderabad -500032, Telangana
Tel:040-67162222/18003094001
E-mail:[email protected]
Investor grievance E-mail:[email protected]
Website:www.kfintech.com
Note: Check Dev Accelerator IPO allotment status Visit IPOBAZAR Allotment Page And Search Your Registrar IPO Allotment Link. Click Here
Company Address :
Dev Accelerator Ltd.
C-01, The First Commercial Complex,
behind Keshavbaug Party Plot,
Vastrapur, Ahmedabad, Gujarat, 380015
Phone: 7041482004
Email: [email protected]
Website: http://www.devx.work/
Dev Accelerator IPO FAQs :
What is Dev Accelerator Issue?
Dev Accelerator IPO is a Mainboard Issue. They are going to raise ₹143.35 Crores via IPO. The issue is priced at ₹56-₹61 per equity share. The IPO is to be listed on NSE, and BSE.
When Dev Accelerator Issue will open?
The IPO is to open on September 10, to September 12, 2025 for QIB, NII & RII.
What is Dev Accelerator Issue Size?
Dev Accelerator Issue size is ₹143.35 Crores.
What is the Fresh issue size of Dev Accelerator Issue?
The Fresh issue size of Dev Accelerator IPO ₹143.35 Cr.
What is the Dev Accelerator Issue Minimum Size?
The minimum lot size 235 Shares with ₹14,335 amount.
What is the Dev Accelerator Issue Investors Portion?
The investors’ portion for QIB is 75%, NII 15%, and RII 10%.
What is the Dev Accelerator Issue Allotment Date?
Dev Accelerator Issue allotment date is September 15, 2025.
What is the Dev Accelerator Issue Listing Date?
Dev Accelerator Issue listing date is September 17, 2025. The IPO is to be listed on NSE, BSE.
Disclaimer: Stock Market Investments are Subject to Market risks, read all scheme Related Document Carefully Before Investing.