Dev Accelerator IPO oversubscribed 84 times ahead of final day
Dev Accelerator's IPO just wrapped up and the hype was real—investors bid for over 84 crore shares, even though only about 1.3 crore were on offer.
With shares priced at ₹56-61 each, the company had already bagged ₹63 crore from anchor investors before the main event kicked off.
Retail investors couldn't get enough of this 1
Retail investors really showed up, subscribing nearly 165 times their allotted quota! Non-institutional and institutional buyers were also keen, with high subscription rates across the board.
The IPO aims to raise about ₹143 crore to help Dev Accelerator expand into cities like Mumbai and Pune, cover fit-out costs, and pay down some debt.
Mark your calendar—Dev Accelerator is set to hit the stock market on September 17, aiming for a valuation of around ₹550 crore.