Dev Accelerator's ₹143cr IPO opens tomorrow: Key details
Dev Accelerator, a major player in India's flexible workspace scene, just bagged ₹63cr from anchor investors before its IPO.
They're aiming to raise a total of ₹143.35cr, with shares priced between ₹56 and ₹61 each.
The IPO opens September 10 and closes September 12, 2025; listing is set for September 17 on both BSE and NSE.
Dev Accelerator runs 28 coworking centers across India
Started in 2017, Dev Accelerator runs 28 coworking centers across 11 Indian cities—think Delhi-NCR, Mumbai, Hyderabad—with space for over 14,000 people.
Their clients range from startups to big corporates and MNCs.
Besides offering everything from single desks to custom offices, they also handle workspace design through a dedicated subsidiary.
Use of proceeds from the issue
A chunk of the IPO funds (₹73.1cr) will go toward capital expenditure for fit-outs in proposed centers, with expansion plans including their first international spot in Sydney.
Another ₹35cr will help pay down debt.
75% of shares are reserved for institutional investors, 15% for non-institutional investors, and 10% for retail investors.