Dev Accelerator IPO Subscribed 5.33 Times | Strong Investor Demand
Update: 2025-09-11 18:12 IST
LG Electronics India IPO Listing Date, Subscription Details & Financials 2025
The initial public offer (IPO) of Dev Accelerator has received strong demand. By 5 PM on 11 September 2025, the IPO got bids for 21.14 crore shares against only 1.31 crore shares on offer, making it subscribed 5.33 times.
IPO Details
- Bidding period: 10–12 September 2025
- Price band: ₹56–₹61 per share
- Lot size: Minimum 235 shares and multiples thereafter
- Fresh issue: 2.35 crore equity shares of ₹2 each
Use of Funds
The company plans to use the IPO money for:
- ₹73.11 crore for new center fit-outs
- ₹35 crore to repay or prepay borrowings and debentures
- Remaining for general corporate purposes
About Dev Accelerator
Dev Accelerator provides flexible workspace solutions like desks and custom offices.
- It operates in 11 cities with 14,144 seats across 8.6 lakh sq. ft.
- Serves 250+ clients, with 55% revenue from IT/ITES companies
- Business model: asset-light leases with ~87% occupancy
- Promoted by Parth Shah, Umesh Uttamchandani, and team
- Plans to expand with 4 new centers
Financials
- FY25 total income: ₹158.88 crore
- Net profit: ₹1.74 crore
Anchor Investment
On 9 September 2025, the company raised ₹853.87 crore from 59 anchor investors by allotting 8.29 crore shares at ₹103 each.