IPO Trending
DEVXEQ / NSE, BSEListed
Dev Accelerator

Dev Accelerator Limited (DevX), established in 2017, is engaged in providing flexible office space solutions and operates through its subsidiary, Neddle and Thread Designs LLP, which offers design and execution services. The company’s business model is centered on flexibility and adaptability to modern workplace needs, offering coworking spaces, managed offices, and customizable desks and suites. Its primary clients include large corporations, multinational companies (MNCs), and small to medium enterprises (SMEs), supported by features such as flexible lease options and solutions aligned with remote work trends. As of August 31, 2024, DevX has built a strong operational presence with 25 centers across 11 cities, including Delhi-NCR, Hyderabad, Mumbai, and Pune, with a total seating capacity of 12,691 and a managed area of 806,635 square feet, catering to over 230 clients. The company is expanding aggressively, with three new centers signed under letters of intent, including its first international location in Sydney, Australia, and a new domestic market in Surat, India. This pipeline adds 11,500 new seats and 897,341 square feet of space. The net proceeds from the Dev Accelerator IPO are planned to be utilized for funding fit-outs and security deposits for new centers amounting to ₹73.11 crore, repayment of borrowings and redemption of NCDs worth ₹35 crore, along with general corporate purposes.

₹56 - ₹6163.97x sub
Listed Price₹61.30
Listing Gain+0.49%

IPO Schedule & Timeline

Bookbuilding IPO
Open10 Sep 2025
Close12 Sep 2025
Allotment15 Sep 2025
Listing17 Sep 2025

Quota Reservation & Application Lots

Quota Reservation (% Shares)

Anchor1,03,52,925 shares
44.06%
QIB69,01,950 shares
29.37%
HNI34,50,975 shares
14.69%
Retail23,00,650 shares
9.79%
Employees1,64,500 shares
0.7%
Shareholder3,29,000 shares
1.4%

Minimum Application Lots

Retail1 Lot (235 shares)
₹14,335
sHNI14 Lots (3,290 shares)
₹2,00,690
bHNI70 Lots (16,450 shares)
₹10,03,450

Company Promoters

Parth ShahUmesh UttamchandaniRushit ShahDev Information Technology Limited

Company Background

Dev Accelerator Limited (DevX), established in 2017, is engaged in providing flexible office space solutions and operates through its subsidiary, Neddle and Thread Designs LLP, which offers design and execution services. The company’s business model is centered on flexibility and adaptability to modern workplace needs, offering coworking spaces, managed offi...

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Mar-25)₹178.89 Cr
Growth+150.7%
Revenue Trend (₹ in Crores)
0.068.6137.1205.7Mar-23Mar-24Mar-25
PeriodRev (Cr)PAT (Cr)AssetsDebt
Mar-25178.891.74540.38130.67
Mar-24110.730.43411.09101.05
Mar-2371.37-12.83282.4233.2

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Mar-250.270%25.95%00
Mar-240.080%17.31%00

Peer Comparison & Valuation

Financial Performance

Awfis Space Solutions Ltd

NAV/Share (₹)64.71
RONW(%)14.78
EPS (Basic) (₹)9.75

Dev Accelerator Limited

NAV/Share (₹)7.68
RONW(%)3.24
EPS (Basic) (₹)0.27

Smartworks Coworking Spaces Limited

NAV/Share (₹)10.45
RONW(%)-58.56
EPS (Basic) (₹)-6.18

Indiqube Spaces Limited

NAV/Share (₹)-0.24
RONW(%)NA
EPS (Basic) (₹)-7.65

Valuation

Awfis Space Solutions Ltd

P/E(X)60.95
CMP* (₹)589.35
Face value (₹)10

Dev Accelerator Limited

P/E(X)NA
CMP* (₹)NA
Face value (₹)2

Smartworks Coworking Spaces Limited

P/E(X)-74.04
CMP* (₹)457.55
Face value (₹)10

Indiqube Spaces Limited

P/E(X)-28.69
CMP* (₹)219.38
Face value (₹)1

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Kfin Technologies Limited

Allotment Finalized
Allotment Date
15 Sep 2025
Official Status
Out / Finalized
Registrar
Kfin Technologies Limited
Listing Date
17 Sep 2025

Official Allotment Verification Links

Official Registrar Portal
Kfin Technologies Limited

Direct allotment verification on the official registrar portal appointed for Dev Accelerator. Check with PAN or Application No.

Check on Registrar Portal
Stock Exchange Portal
BSE India Investor Portal

Official Bombay Stock Exchange investor verification channel using Issue Name and PAN Number.

Check on BSE India

Allotment Schedule & Milestones

IST
1. Allotment Finalization15 Sep 2025Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date17 Sep 2025Trading commences on exchange

How to Check Dev Accelerator Allotment Online

1Open Portal

Click on the official registrar link or BSE portal button above.

2Select Company

Select Dev Accelerator from the issue drop-down list.

3Enter Details

Select PAN, Application No., or DP Client ID and type your details.

4View Allocation

Click Submit to check your allotted share count and status.

Prospectus & Official Filings

Allotment FAQs & Help

About Dev Accelerator IPO

Complete issue overview for Dev Accelerator (DEVX) IPO. The issue features an equity share price band of ₹56 – ₹61 per share with a minimum retail lot size of 235 Shares (minimum application amount of ₹14,335). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions