About Dev Accelerator:
The company offers flexible workspace solutions, ranging from individual desks to fully customized office spaces with exclusive client access. It serves as an integrated platform for all flexible workplace needs, sourcing spaces through various models like Straight Lease, Revenue Share, Furnished by Landlord, and OpCo–PropCo. Operating across Tier 1 and Tier 2 cities in India, including Delhi NCR, Mumbai, Hyderabad, Pune, and others, it provides end-to-end services such as office sourcing, design customization, technology integration, and asset management, supporting over 250 clients and managing 14,144 seats across 28 centers as of May 31, 2025.
About the Industry in which Dev Accelerator operates:
Flex space operators have become key contributors to India’s office markets, with the top seven cities representing around 75–80% of total market activity. In 2024, flex spaces made up 20% of gross leasing, underscoring their rising importance. The flex space inventory grew from 18.6 million sq. ft. in 2018 to 74 million sq. ft. in 2024, at a CAGR of 26%, accounting for approximately 7% of the overall office stock. Post-COVID, the segment held a 17–18% share of leasing annually and is expected to double to 129 million sq. ft. by 2028.
| Important Information and Timelines of the IPO of Dev Accelerator: | |
|---|---|
| Open Date | 10 September 2025 |
| Close Date | 12 September 2025 |
| Total Issue Size – Number of Shares | 23500000 |
| Minimum Bid Price | 56 |
| Maximum Bid Price | 61 |
| Lot Size | 235 |
| Basis of Allotment | 15 September 2025 |
| Initiation of Refunds and Credit of Shares to Demat | 16 September 2025 |
| Listing Date | 17 September 2025 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of Dev Accelerator:
| Category | Lots | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 235 | 14335 |
| Retail – Maximum | 13 | 3055 | 186355 |
| sHNI – Minimum | 14 | 3290 | 200690 |
| sHNI – Maximum | 69 | 16215 | 989115 |
| bHNI – Minimum | 70 | 16450 | 1003450 |
Objective of the IPO of Dev Accelerator:
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Capital expenditure for fit-outs in the proposed centers.
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Repayment and/or pre-payment, in full or in part, of certain borrowings availed by the company, including the redemption of non-convertible debentures.
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General corporate purposes.
Financials of Dev Accelerator:
| Particulars | March 31, 2025 | March 31, 2024 | March 31, 2023 |
|---|---|---|---|
| Share capital | 169.15 | 35.91 | 35.90 |
| Revenue from operations | 1,588.75 | 1,080.87 | 699.11 |
| Restated profit / (loss) for the year | 17.73 | 4.37 | (128.30) |
| Earnings per Equity Share (post bonus & split) | |||
| - Basic | 0.27 | 0.08 | (2.55) |
| - Diluted | 0.27 | 0.08 | (2.55) |
| Net Asset Value per Equity Share | 7.68 | 4.10 | (0.43) |
| Net worth | 547.86 | 287.88 | 12.22 |
| Total borrowings | 1,306.73 | 1,010.50 | 332.01 |
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for Dev Accelerator. You will receive a UPI mandate after 10:00 AM on 10 September 2025.
###1. How to apply for the IPO of Dev Accelerator on Dhan?
You can apply for the IPO of Dev Accelerator from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of Dev Accelerator be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 16 September 2025. However, you will be able to see the shares of Dev Accelerator on Dhan before the market starts on the listing date which is 17 September 2025.