Wed Sep 17 04:00:00 UTC 2025: **News Article:**

**Dev Accelerator IPO Heavily Oversubscribed, Listing Expected September 17th**

Mumbai, September 12, 2025 – The initial public offering (IPO) of Dev Accelerator Ltd, a leading managed office space provider, has seen overwhelming investor demand, closing today with a subscription rate of 64 times overall.

The ₹143.35 crore IPO, consisting entirely of a fresh issue of 2.35 crore shares priced between ₹56 and ₹61, was significantly oversubscribed across all categories. Retail investors bid 164.89 times the shares allocated to them, while Qualified Institutional Buyers (excluding Anchor Investors) subscribed 20.30 times, and Non-Institutional Investors (NII) subscribed 87.97 times.

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

Dev Accelerator, promoted by Dev Information Technology Ltd, offers flexible workspace solutions, including managed offices, co-working spaces, and design & build services. As of May 2025, the company operates 28 centers across 11 Indian cities. The company reported revenue growth from ₹30.9 crore in FY22 to ₹158.9 crore in FY25, with a Profit After Tax (PAT) of ₹1.7 crore in FY25.

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

According to InvestorGain, the Grey Market Premium (GMP) for Dev Accelerator stood at ₹8 as of early morning September 15, 2025, suggesting a potential listing price of ₹69 per share, representing a 13.11% gain based on the upper price band. *Disclaimer: The GMP is an unauthenticated market indicator and should not be the sole basis for investment decisions.*

The company plans to utilize the net proceeds from the IPO for business expansion and general corporate purposes.

Investors should conduct their own thorough research before making any investment decisions.

**Summary of the Text:**

The Dev Accelerator IPO was heavily oversubscribed across all investor categories. The allotment is expected to be finalized on September 15, 2025, and the listing on BSE and NSE is tentatively scheduled for September 17, 2025. The company, a managed office space provider, plans to use the IPO proceeds for business expansion. The grey market premium suggests a positive listing, but investors are advised to conduct their own research.

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