Dev Accelerator has raised ₹63 crore from anchor investors ahead of its IPO, which opens for public subscription on Wednesday, September 10, 2025. The company informed the bourses today that it had allocated 10,352,925 equity shares of ₹2 each to anchor investors at an allocation price of ₹61 per equity share (including a share premium of ₹59 per equity share).
The diversified anchor book of Dev Accelerator comprises anchor investors, including insurance and NBFC treasuries such as Universal Sompo General Insurance Company Limited, Chattisgarh Investments Limited, Abans Finance Private Limited, domestic AIFs, and a couple of FPIs.
IPO Details
The IPO of Dev Accelerator is scheduled to open for subscription on Wednesday, September 10, 2025, and will close on Friday, September 12, 2025. The IPO is a book-built issue with a price band set between ₹56 and ₹61 per equity share.
Investors can apply in lots of 235 equity shares each. The equity shares of Dev Accelerator will be listed on both BSE and NSE, with the tentative listing date set for September 17, 2025.
The total issue size is ₹143 crore at the upper end of the price band, the Issue will be conducted through book building with an allotment of not less than 75% of the net issue to qualified institutional buyers, not more than 15% of the net issue to non-institutional investors, and not more than 10% of the net issue to retail individual bidders and also has a reservation portion for employees and shareholders.
Pantomath Capital Advisors Private Limited is the sole book-running lead manager for the Dev Accelerator IPO.
About the company
Dev Accelerator offers space solutions in the form of flexible workspaces to its clients, from individual desks to customized office spaces with exclusive access for clients. The company has established itself as a one-stop integrated solution platform for any flexible workplace requirement. It is one of the largest flex space operators in terms of operational flex stock in Tier 2 markets.
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