Dev Accelerator's ₹143cr IPO to open tomorrow: What to know
Dev Accelerator's IPO opens on September 10, 2025, and closes on September 12, 2025.
The company is looking to raise ₹143.35 crore by offering shares priced between ₹56 and ₹61 each.
To invest, you'll need to buy at least one lot (235 shares), which comes to about ₹14,335.
The stock is already trading at a 13% premium in the gray market, hinting at a possible listing price near ₹70 per share.
The company's business model and expansion plans
Founded in 2017, Dev Accelerator runs 28 flexible workspace centers across major Indian cities like Delhi NCR, Mumbai, Pune, and Hyderabad—serving corporates, startups, and SMEs with over 14,000 seats across 860,000 sq. ft.
This year, they're planning three new centers—including their first international office in Sydney, Australia.
Financials, use of funds, and post-IPO valuation
For FY25 (the current financial year), Dev Accelerator reported ₹159 crore in revenue and a profit after tax of ₹1.8 crore—growing revenue at an impressive 50% CAGR since FY23.
Money from the IPO will go toward opening new centers, paying off about ₹35 crore in debt, and covering corporate expenses.
After listing, the company expects a valuation around ₹550 crore with promoter holding dropping to roughly 37%.