Dev Accelerator IPO Day 3 Live: The initial public offer (IPO) of Dev Accelerator, which has garnered a strong response from investors, has entered its last day of bidding today.
The issue saw 16.08 times subscription as of the second day of the share sale on Thursday. The company’s initial share sale received bids for 21,14,04,355 shares against 1,31,47,075 shares on offer, as per NSE data.
The retail portion received a whopping 59.31 times subscription. The category for non-institutional investors got subscribed 15.36 times and the Qualified Institutional Buyers (QIBs) part received 2.40 times subscription.
The price band has been fixed at ₹56 to ₹61 per share.
The company’s IPO is entirely a fresh issue of 2.35 crore equity shares worth ₹143.35 crore at the upper end of the price band. At the upper end, the company’s market validation is pegged at ₹550 crore.
Dev Accelerator IPO shares are expected to make their stock market debut on September 17.
Dev Accelerator IPO GMP
In the grey market, Dev Accelerator is enjoying a decent grey market premium (GMP). Dev Accelerator IPO GMP today is ₹10. This means that Dev Accelerator IPO listing price could be ₹71, a premium of 16.39%.
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