Introduction to Dev Accelerator Ltd
Dev Accelerator Ltd, operating under the brand DevX, is a leading provider of flexible workspace solutions in India. Established in 2017, the company has rapidly expanded to Tier 1 and Tier 2 cities, including Ahmedabad and Gandhinagar, offering coworking spaces, managed offices, IT/ITeS services, and facility management solutions.
The company has positioned itself strategically to cater to startups, SMEs, and large enterprises seeking scalable office solutions, making it a prominent player in India’s growing flexible workspace sector.
Dev Accelerator IPO Details
IPO Launch Date: September 10, 2025
IPO Closing Date: September 12, 2025
Issue Size: ₹143.35 crore
Number of Shares: 2.35 crore equity shares
Price Band: ₹56 – ₹61 per share
Listing Date: Expected September 17, 2025 (BSE & NSE)
The IPO aims to raise funds for business expansion, reducing debt, and enhancing working capital.
Subscription Status
The Dev Accelerator IPO has witnessed strong investor demand since Day 1:
- Overall Subscription: 1.92 times by the end of Day 1
- Retail Investors: Oversubscribed 6.19 times, reflecting high enthusiasm among individual investors
This robust subscription indicates market confidence in DevX’s business model and growth potential in the coworking sector.
Business Model and Services
Dev Accelerator Ltd provides a diversified range of services through its DevX brand:
- Workspace Solutions
- Flexible coworking spaces
- Managed office solutions for businesses of all sizes
- Office Design & Execution
- Through Neddle & Thread Designs, DevX provides turnkey office fit-out services
- IT/ITeS Services
- Delivered via Saasjoy Solutions, supporting business software and IT infrastructure
- Facility Management
- Comprehensive support including maintenance, operations, and administrative assistance
These services cater to the growing demand for flexible and scalable office solutions, especially post-pandemic, as hybrid working models gain traction.
Geographic Presence
Dev Accelerator has established a strong footprint across Gujarat, with key centers in:
- Ahmedabad
- Gandhinagar
These centers are strategically located to cater to startups, SMEs, and large corporate clients, providing modern office facilities and support services.
Investment Potential
Investors considering the Dev Accelerator IPO should note the following:
- Growth Story: India’s coworking market is expanding rapidly, driven by startup growth and hybrid work trends.
- Strong Retail Interest: Oversubscription by retail investors indicates high confidence in the IPO.
- Moderate Risk: As an SME IPO, the investment carries slightly higher risk compared to large-cap offerings.
- Long-Term Potential: Investors seeking long-term gains from India’s flexible workspace sector may find this IPO attractive.
Key Dates and Listing
- IPO Open: September 10, 2025
- IPO Close: September 12, 2025
- Expected Listing: September 17, 2025 (BSE & NSE)
Investors should track subscription numbers to gauge market sentiment before finalizing their applications.
Market Impact
A successful listing could lead to:
- Increased investor confidence in SME-focused IPOs
- Boost to the coworking sector with enhanced brand visibility for DevX
- Potential short-term listing gains for early investors, based on market demand and subscription overshoot
FAQs
Q1: What is the price band of Dev Accelerator IPO?
A: ₹56 – ₹61 per share.
Q2: When is the listing date?
A: Expected on September 17, 2025, on BSE and NSE.
Q3: How has retail investor demand been?
A: Oversubscribed 6.19 times on Day 1, showing strong interest.
Q4: What services does DevX offer?
A: Coworking spaces, managed offices, office fit-out services, IT/ITeS solutions, and facility management.
Q5: Is it a high-risk investment?
A: Being an SME IPO, it carries moderate risk, suitable for investors comfortable with short-term volatility.
Subscription
| Investor | 10 Sep 2025 | 11 Sep 2025 | 12 Sep 2025 |
|---|---|---|---|
| Anchor | 0 | ||
| QIB | 1.16 | ||
| Non-Institutional | 4.46 | ||
| BNII | 4.28 | ||
| SNII | 4.82 | ||
| Retail | 19.60 | ||
| Employee | 2.35 | ||
| Shareholders | 4.16 | ||
| Total | 5.34 |
GMP Trend:
| Date | GMP |
|---|---|
| 10 Sep 2025 | ₹9.00(14.75%) |
| 11 Sep 2025 | ₹? |
| 12 Sep 2025 | ₹?(?%) |
It should be noted that IPO GMP is subject to extreme volatility, so an investment decision based solely on Patel Retail IPO GMP will prove risky. Therefore, before to investing, consider all factors and make the right investment decision whether to invest in Patel Retail IPO or not.
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