Dev Accelerator IPO Subscribed 5.33 Times | Strong Investor Demand
LG Electronics India IPO Listing Date, Subscription Details & Financials 2025
Dev Accelerator IPO has received bids for 21.14 crore shares against 1.31 crore shares, showing 5.33x subscription by September 11, 2025. Issue closes on September 12.
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.
