365telugu.com online news,Mumbai, September 6th, 2025: Dev Accelerator Limited has announced the launch of its Initial Public Offering (IPO), which will open for subscription on Wednesday, September 10, 2025, and close on Friday, September 12, 2025. The Anchor Investor Bidding Date is set for Tuesday, September 09, 2025.
The company has fixed the price band for the issue at ₹56 to ₹61 per equity share with a face value of ₹2 each. Investors can bid for a minimum of 235 equity shares and in multiples thereafter.
The IPO comprises a fresh issue of shares aggregating up to ₹143.35 crore (at the upper price band). There is no Offer for Sale (OFS) component. The net proceeds from the issue will be utilized for:
- Capital expenditure for fit-outs in proposed centers (₹73 crore)
- Repayment/prepayment of certain borrowings, including redemption of NCDs (₹35 crore)
- General corporate purposes
Business Overview
Dev Accelerator Limited is one of the leading flexible workspace operators in India, particularly in Tier-2 markets. The company offers space solutions through multiple models including Straight Lease, Revenue Share, Furnished by Landlord, and OpCo–PropCo models.
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As of May 31, 2025, the company managed 28 centers across 11 cities, serving over 250 clients with a total 14,144 seats covering 860,522 sq. ft. of space.
Financial Performance
In FY25, Dev Accelerator reported:
- Revenue from operations: ₹158.88 crore (up 47% YoY from ₹108.09 crore in FY24)
- Profit After Tax (PAT): ₹1.77 crore (up 305.7% YoY from ₹0.44 crore in FY24)
- Adjusted EBITDA: ₹80.46 crore
IPO Details
- Listing: Proposed on both BSE and NSE (NSE is the designated stock exchange)
- Book Building Process: Conducted under SEBI ICDR Regulations
- QIB Allocation: Not less than 75% of the net issue, with up to 60% reserved for Anchor Investors
- Non-Institutional Investors (NIIs): Up to 15%
- Retail Individual Investors (RIIs): Up to 10%
- Employee & Shareholder Reservation Portions included
Applications (other than Anchor Investors) must be made through the ASBA process using SCSBs or Sponsor Banks.
Pantomath Capital Advisors Private Limited is the sole Book Running Lead Manager to the issue.
The company’s Red Herring Prospectus (RHP) is available here.