Thu Sep 11 03:30:00 UTC 2025: ## Dev Accelerator Secures ₹63 Crore from Anchor Investors Ahead of IPO

**Mumbai, India – [Date of Publication – Assume today, or a day before September 10, 2025]** – Dev Accelerator, a leading provider of flexible workspace solutions, has raised ₹63 crore from anchor investors ahead of its Initial Public Offering (IPO), which is slated to open for public subscription on Wednesday, September 10, 2025.

The company announced that it allocated 10,352,925 equity shares at ₹61 per share (including a premium of ₹59) to a diverse group of anchor investors. This group includes prominent insurance and NBFC treasuries such as Universal Sompo General Insurance Company Limited, Chattisgarh Investments Limited, Abans Finance Private Limited, along with domestic Alternative Investment Funds (AIFs) and select Foreign Portfolio Investors (FPIs).

The IPO, a book-built issue, will be open for subscription from September 10th to September 12th, 2025, with a price band fixed between ₹56 and ₹61 per equity share. Investors can apply in lots of 235 shares.

With a total issue size of ₹143 crore at the upper end of the price band, the IPO will allocate at least 75% of the net issue to qualified institutional buyers (QIBs), no more than 15% to non-institutional investors (NIIs), and no more than 10% to retail individual bidders. A portion is also reserved for employees and shareholders.

The company intends to list its equity shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with a tentative listing date set for September 17, 2025.

Pantomath Capital Advisors Private Limited is acting as the sole book-running lead manager for the IPO.

Dev Accelerator offers a range of flexible workspace solutions, from individual desks to customized office spaces, targeting clients in Tier 2 markets. The company positions itself as a one-stop integrated platform for flexible workplace needs and claims to be one of the largest flex space operators in these markets.

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