Thu Sep 11 03:30:00 UTC 2025: Okay, here’s a news article based on the provided information:

**News Article:**

**Dev Accelerator IPO Opens to Strong Demand, Subscribed 1.81 Times on Day 1**

**Mumbai, September 10, 2025** – Dev Accelerator Ltd, a leading managed office space provider, launched its Initial Public Offering (IPO) today, seeking to raise ₹143.35 crore. The IPO, which opened for public subscription at 10 AM, has already garnered significant interest, being subscribed 1.81 times by the end of the day, according to NSE data.

The public can subscribe till September 12, 2025.

The IPO comprises a fresh issue of 2.35 crore shares with a price band fixed between ₹56 and ₹61 per share. Retail investors need to apply for a minimum lot size of 235 shares, requiring a minimum investment of ₹14,335 at the upper price band.

The response has been enthusiastic across various investor categories. Retail Individual Investors (RIIs) have subscribed 5.65 times their allocated portion, while Non-Institutional Investors (NIIs) subscribed 0.79 times. The Employee category saw a subscription of 0.85 times, and Qualified Institutional Buyers (QIBs) subscribed 1.09 times.

Dev Accelerator, promoted by Dev Information Technology Ltd, plans to use the net proceeds from the IPO to fund its growth initiatives. The company offers flexible workspace solutions, including managed offices and co-working spaces, and operates 28 centers across 11 Indian cities, managing over 8.6 lakh sq. ft. of space.

Pantomath Capital Advisors Pvt. Ltd. is the book-running lead manager for the IPO, and Kfin Technologies Ltd. is the registrar.

The allotment process is expected to be finalized on September 15, 2025, with shares slated to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 17, 2025.

Grey market trends, although unverified, suggest positive sentiment. According to a Livemint report, the Grey Market Premium (GMP) for Dev Accelerator stood at ₹9 today, potentially leading to a listing price of ₹70 per share, representing an estimated gain of 14.75%. *Investors are advised to conduct thorough research before making investment decisions based on GMP information.*

Dev Accelerator has demonstrated strong financial performance, with revenues increasing from ₹30.9 crore in FY22 to ₹158.9 crore in FY25. The company also reported a Profit After Tax (PAT) of ₹1.7 crore in FY25.

Read More