Fri Sep 12 03:50:00 UTC 2025: ## Dev Accelerator IPO Sees Overwhelming Demand on Day 2, Subscribed Over 8 Times

**Mumbai, September 11, 2025** – Dev Accelerator Ltd, a leading managed office space provider, is experiencing strong investor demand for its Initial Public Offering (IPO), which opened for subscription yesterday, September 10th. As of 11:15 AM today, the IPO has been subscribed 8.48 times, according to data from the National Stock Exchange (NSE).

The ₹143.35 crore IPO, consisting of a fresh issue of 2.35 crore shares, is priced between ₹56 and ₹61 per share. The subscription window remains open until September 12th, 2025.

Retail investors are showing particular enthusiasm, with the Retail Individual Investors (RII) category subscribed 32.79 times. Other categories also saw significant oversubscription, including Non-Institutional Investors (NII) at 7.28 times, Employees at 3.59 times, Qualified Institutional Buyers (QIB) at 1.17 times, and Shareholders at 6.78 times.

The company, promoted by Dev Information Technology Ltd, plans to utilize the net proceeds from the IPO to fuel its growth plans. Dev Accelerator currently operates 28 centers across 11 Indian cities, managing over 8.6 lakh sq. ft. of space with over 14,000 seats and serving more than 250 clients. The company reported a revenue of ₹158.9 crore in FY25 and a Profit After Tax (PAT) of ₹1.7 crore.

The minimum lot size for application is 235 shares, requiring a minimum investment of ₹14,335 based on the upper price band.

Pantomath Capital Advisors Pvt. Ltd. is the book running lead manager for the IPO, with Kfin Technologies Ltd. serving as the registrar.

The allotment process is expected to be finalized on September 15th, 2025, with a tentative listing date of September 17th, 2025, on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

According to InvestorGain, the Grey Market Premium (GMP) for Dev Accelerator Ltd stood at ₹8 as of 11:15 AM today. Based on the upper price band of ₹61, the estimated listing price is ₹69, representing a potential gain of 13.11% per share. *Investors should note that GMP is an unauthenticated market-related indicator and should not be the sole basis for investment decisions.*

Dev Accelerator Ltd offers a range of flexible workspace solutions, including managed offices, co-working spaces, and design & build services. It also provides allied services such as payroll, IT/ITeS, and facilities management.

*Disclaimer: This news is for informational and educational purposes only and does not constitute investment advice. Investors should conduct their own research before making any investment decisions.*

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